Kuwait oil price drops to $70.63 pb

emirates7 - The price of Kuwaiti oil fell by US$2.16 on Tuesday, reaching US$70.63 per barrel, down from US$72.79 on Monday, according to a statement from the Kuwait Petroleum Corporation on Wednesday.

Globally, Brent Crude declined by 50 cents to US$68.71 per barrel, while West Texas Intermediate slipped by 46 cents to US$66.52 per barrel, as reported by the Kuwait News Agency.