Mubasher – Mohamed Farouk: The price of a barrel of Kuwaiti oil fell in yesterday’s session by $1.33; It reached $72.37, compared to $73.70 a barrel in the previous session, according to the price announced by the Kuwait Petroleum Corporation.
Globally, oil prices rose with the start of trading on Tuesday, supported by the growth of Chinese exports more than expected during the expected, which boosted optimism about the Chinese economy, which is a major consumer of crude.
China’s dollar-denominated exports increased 25.6 percent year on year, while imports rose 33.1 percent in August.
China’s imports of crude also rose to their highest level in five months, as the country imported 44.53 million metric tons of crude during August.
In today’s trading, Brent crude futures for November delivery rose 0.7%, or 53 cents, at the level of $72.75 a barrel, after falling over two days.
And US NYMEX crude contracts for October delivery recorded a marginal increase of 0.1% to $69.38 a barrel, compared to the closing of trading on the New York Stock Exchange on the last assembly day.
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