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2026-07-13 14:54:53
[Kuwait drastically lowers official crude oil prices for August, with a discount of $5/barrel to Asian markets] (1) Kuwait Petroleum Corporation (KPC) announced its August crude oil export pricing, significantly lowering prices in major markets, reflecting supply and demand changes under the current geopolitical situation in the Middle East. (2) The export crude oil price to the Asian market is set at a discount of $5/barrel to the benchmark crude oil, while in July the price was a premium of $5.25/barrel, a difference of $10.25; meanwhile, the price of Kuwait's ultra-light crude oil has remained unchanged from the export crude oil price for the fourth consecutive month. (3) The crude oil price to all regions of Europe was uniformly lowered by $6.45/barrel, with the Kuwaiti export crude oil price to Northwest Europe and the Mediterranean region set at a discount of $6.05/barrel. (4) The export crude oil price to the US market was lowered by $8/barrel, with the FOB price set at a discount of $3.40/barrel. (5) Despite the continued suppression of overall crude oil shipments from the Persian Gulf by the new round of strikes, some ships still transited the Strait of Hormuz along the shipping lanes near the coast of Oman and passed through by concealing their ship location information.
