The price of a barrel of Kuwaiti oil fell in yesterday’s session by 45 fils; It reached $70.52, compared to $70.97 a barrel in last Monday’s session, according to the price announced by the Kuwait Petroleum Corporation.

Globally, oil prices fell at the close of trading yesterday, as the price of Brent crude futures for October delivery fell 0.7% to $69.03 a barrel, and the US NYMEX crude for September delivery fell by 1% to $66.59 a barrel.

The drop in oil prices came in conjunction with increasing market fears about the new delta axis and the speed of its spread globally, which may negatively affect global demand for crude oil during the remainder of this year.

The American Petroleum Institute announced yesterday that crude oil inventories fell by 1.2 million barrels for the week ending on August 13.

The American Institute stated, in its weekly report, that gasoline stocks in the United States decreased by 1.2 million barrels, while distillate stocks rose by 502 thousand barrels.

Today, Wednesday, the US Energy Information Administration is scheduled to announce official stockpile figures, amid expectations that crude stocks will fall by 1.2 million barrels./agencies