Kuwaiti crude down to USD 108.86 pb

The price of Kuwaiti crude oil was down 78 cents on Tuesday to trade at USD 108.86 per barrel (pb), down from Monday's USD 109.64 pb, said Kuwait Petroleum Corporation (KPC) on Wednesday. Crude prices were affected by Standard and Poor's reference to feared worsening of the European debt crisis and general economic deterioration in the eurozone in the third quarter this year. The rating agency predicted that this situation could prompt consideration of a reduction of the credit rating of the region as a whole in the near future. (end) mam.ysa.ma KUNA 071431 Dec 11NNNN ]