Kuwait crude oil down 31 cents to $103.21

Kuwait Petroleum Corporation (KPC) said on Saturday the price of Kuwait crude oil was down 31 cents on Friday to USD 103. 21 per barrel, compared to USD 103.52 the day before. Kuwaiti crude oil was up by 2.5 percent over a week compared to USD 100.95 per barrel on July 4. The latest unstable political events in the Middle East, especially in Egypt, and the developments in the job market in the US, which has the largest economy, all led to the continuous rising in oil prices during last week. Crude oil in the New York stock exchange reached its highest price in 15 months due to the decrease in US crude stocks for the second week in a row by about 9.8 million barrel.