The price of Kuwaiti oil barrel dropped USD 1.21 reaching USD 50.10 on Wednesday, compared to USD 51.31 per barrel on Tuesday, said Kuwait Petroleum Corporation (KPC) on Thursday.
The prices of Brent forward deals dropped two percent in London Stock Exchange on Wednesday, completing five sessions in a row of continuous drop. Meanwhile, Brent contracts ended the session with a rise of USD 1.15, reaching USD 57.54 pb upon settlement.
As for New York Mercantile Exchange (NYMEX), the American crude oil saw a slight drop in prices, as the US crude contracts dropped 12 cents, reaching USD 48.17 pb.