Kuwait Oil Price Down USD 1.05 to USD 36.97 per barrel

Kuwait oil price retreated by USD 1.05 to settle at USD 36.97 per barrel Tuesday compared to USD 38.02 pb the day before, said Kuwait Petroleum Corporation (KPC) Wednesday. 
At the world markets level, the price of crude went up by more than two percent in Tuesday's trades after the price was down over USD 4 per barrel within a week's trading. The fears of oil production surplus still remain according to investors, according to (KUNA) news agency. 
Reports on the crude oil reserves in the US is expected to show a retreat by 1.9 million barrel within the week ending on July 29th. 
The price of the West Texas Intermediate went up by 67 cents to USD 40.73 per barrel, the same case with the Brent mix which went up by 87 cents to USD 43.01 per barrel.