Kuwaiti crude edges up
Kuwaiti crude oil prices were up in yesterday's trading
Click here to add Kuwait Petroleum Corporation as an alert
Disable alert for Kuwait Petroleum Corporation,
Click here to add New York as an alert
Disable alert for New York,
Click here to add New York Mercantile Exchange as an alert
Disable alert for New York Mercantile Exchange,
Click here to add US Federal Reserve as an alert
Disable alert for US Federal Reserve
The hike in price of crude oil comes amid anticipation over the US Federal Reserve's decisions regarding monetary policy. There is expectation the bank would maintain interest rate as is and also keep up incentives to invigorate the world's biggest economy, which pushed up demand for crude.
Forward trades were sealed on an up of 1.2 percent in New York. The market now awaits the US crude reserves report after some official data indicated an increase of 4.3 million barrels in the stockpile last week.
In electronic trading in the New York Mercantile Exchange, prices of crude for March delivery came down 5 cents to USD 97.52 pb, after reaching the highest level since September 14 Tuesday. Brent contracts for March delivery meanwhile came up 6 cents to USD 114.42 pb.
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Gulf Islamic banks set to outperform conventional banks for second year: Moody's
- Jordan secures EU finance for socioeconomic and environmental programs
- Same-day service deliveries in GCC an untapped market: Wing CEO
- Will terror attacks damper Arabs' appetite for European holidays?