Kuwaiti oil price rises 15 cents to $70.67 a barrel

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The price of a barrel of Kuwaiti oil rose in yesterday's session by 15 cents; It reached $70.67, compared to $70.52 a barrel last Tuesday, according to the price announced by the Kuwait Petroleum Corporation .

Globally, oil prices fell for the fifth day in a row when settling trading yesterday, after US inventories data and with continued concern about the slowdown in demand for crude .

And data from the US Energy Information Administration revealed that crude oil inventories fell by 3.2 million barrels for the week ending August 13, exceeding expectations that had indicated a decline of 1.2 million barrels .

While gasoline stocks in the United States rose 0.7 million barrels, distillate stocks fell 2.7 million barrels .

Oil prices were subjected to downward pressures in the past sessions, with concern about the slowdown in demand for crude due to weak economic data in Asia and the outbreak of the “delta” variable that is the fastest spreading from the “Corona” virus .

And the price of futures contracts for Brent crude, the standard for delivery in October, decreased by 1.1%, or 80 cents, to settle at 68.23 dollars a barrel .

The price of US NYMEX crude for September delivery also declined yesterday, by 1.7%, or $1.13, at $65.46 a barrel .

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