Kuwait crude price up 0.13 cents to $106.45 per barrel

The Kuwaiti oil price was up by 13 cents to USD 106.45 per barrel (pb) on Monday compared to USD 106.32 pb last Friday, the Kuwait Petroleum Corporation (KPC) said here on Tuesday. Global oil prices were affected by abundance of supplies in the market and weak European demand, which reduced the premium European crude to the US crude to its lowest level pb in nearly a month. Meanwhile, Crude Oil Brent (CB) futures prices fell by two percent at London Stock Exchange on Monday. Also, price of Brent crude dropped by USD 2. 22 to USD 109.39 pb. Also, crude oil futures prices dropped by 31 cents to USD 97.34 pb at New York Mercantile Exchange (NYMEX) compared to a previous increase by USD 97.97 pb.