The price of Kuwaiti crude oil went down Tuesday by USD 1.17 to USD 53.49 per barrel compared to USD 54.66 pb Monday, said a statement by Kuwait Petroleum Corporation (KPC) Wednesday.
In the global markets, the price for future crude contracts recovered due to the crisis in Libya which resulted in some attacks targeting oil facilities there.
An additional cause for the recovery came from the warning by Israeli Prime Minister Benjamin Netanyahu to the US administration regarding reaching a deal on the Iranian nuclear file.