Kuwait crude oil drops 96 cents Wed. to USD 72.15 pb – KPC

Kuwait crude oil lost 96 cents during Wednesday's trading to reach USD 72.15 per barrel (pb) compared with USD 73.11 pb the day before, Kuwait Petroleum Corporation (KPC) said Thursday. Benchmark Brent futures rose USD 1.42 to USD 70.61 pb and West Texas Intermediate gained USD 1.56 to USD 67.31 pb. US energy information department said yesterday crude oil stocks increased by 833,000 barrels to 419.1 million barrels last week. The US environmental protection agency said 39 percent of crude oil production in the Gulf of Mexico stopped yesterday after companies operating there evacuated their employees due to the approaching Francine hurricane. It said 49 percent of natural gas production in the Gulf of Mexico stopped due to the hurricane. Source: Kuwait News Agency