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- Kuwaiti oil falls by USD 1.25
- Commercial Bank joins key 2025 Annual Meetings of IMF and IIF in Washington, DC
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15/07/2010 00:00 AST
World oil prices eased below $77 in Asian trade Thursday mainly on reports of weak Chinese economic growth
Light sweet crude for August delivery was seen trading at $76.54 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 76.41 a barrel in London.
Analysts said market will respond immediately to any reports coming from world's two top oil consumers, the US and China.
The black gold edged lower on reports of slowdown in Chinese economic growth in the second quarter and U.S. Federal Reserve minutes renewed concerns about the recovery of the world economy.
Profit taking by traders from Wednesday's rally spurred by a better-than-expected fall in US crude stockpiles also hit oil, they added.
World's second-largest oil consumer, China's annual gross domestic product growth moderated to 10.3 percent in the second quarter from 11.9 percent in the first quarter, slightly below forecasts of 10.5 percent growth.
Asian stocks virtually erased losses after the Chinese reports while the oil market participants also awaited U.S. economic indicators, including industrial output, due later on Thursday.
On Wednesday, crude settled at $77.04 after rising as high as $78.15. Crude hit a low of $76.38 before the bullish crude inventory data was released. Brent crude ended up 12 cents at $76.77.
Commodityonline
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 62.47 | 0.19 | 0.31 |
| WTI | 58.75 | 0.17 | 0.29 |
| OPEC Basket | 63.07 | 0.03 | 0.05 |
19/10/2025
The price of a barrel of Kuwaiti oil fell by USD 1.25, reaching USD 62.52 per barrel in trading on Friday, compared to USD 63.77 on Thursday, according to the Kuwait Petroleum Corporation.
I
Kuwait Times
19/10/2025
Oil prices were slightly higher on Friday, but heading for a weekly loss of nearly 3% after the IEA forecast a growing glut and U.S. President Donald Trump and Russian President Vladimir Putin agreed
Reuters
15/10/2025
Oil prices rose on Tuesday as early signs of a thaw in US-China trade tensions bolstered market sentiment, alleviating concerns over global fuel demand.
US President Donald Trump remains com
Asharq Al Awsat
14/10/2025
The Organization of the Petroleum Exporting Countries (OPEC) on Monday maintained its relatively high forecast for global oil demand growth for this year and next. However, it noted that the oil mar
QNA
14/10/2025
World oil supply is expected to closely match demand next year as the wider OPEC+ group increases production, an OPEC report showed on Monday, marking a change from last month's outlook, which projec
Reuters
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