Kuwait crude oil price settles

Kuwait Petroleum Corporation announced Saturday that the price of Kuwait crude oil remained unchanged at USD 100.80 in Friday's trading. This comes amid record rise in the US dollar exchange rate to reach its highest level in four and a half years against the Japanese yen, the KPC said. It added that the growth in oil supplies on the global market has also prevented any rise in the crude price. Contracts for crude for June delivery at the New York Mercantile Exchange (NYMEX) came to an average of USD 96.04 pb, down 35 cents while the price of Brent crude oil slipped by 65 cents to USD 103.91 per barrel.