Kuwait oil price went up $61 cents on Thursday, reaching $40.25 per barrel (pb) against $39.64 pb on Wednesday, Kuwait Petroleum Corporation (KPC) said Friday. In international markets, Brent Blend went up to $48.14 pb, so as did US crude oil, settling at $46.70 pb. Meanwhile, the Kuwait Petroleum Corporation (KPC) announced on Friday the new prices of Liquefied Petroleum Gas products (propane or butane) for May.
Porpane will be sold at $325 per metric ton, up USD five compared with that of April, the KPC told KUNA. Butane is priced at $380 per metric ton, up $30 compared to April sales. Propane and butane prices are affected by the price of crude oil, and the value of the US dollar, along with geopolitical factors and natural disasters. The two substances are used in the petrochemical industry, cooking, heating and other uses. (KUNA)