Kuwait oil price rises to $98.64 pb

Price of Kuwaiti crude oil rose USD 1.05 to USD 98. 64 per barrel on Tuesday compared to USD 97.59 pb on Monday, Kuwait Petroleum Corporation (KPC) said on Wednesday. Prices of the crude oil on international markets slightly increased following official reports from the US Energy Information Administration (EIA) indicating rise of the American crude reserves. On New York Mercantile Exchange (NYMEX), light-sweet crude futures for delivery in July traded the highest at USD 93.76 a barrel and the lowest at USD 93.98 a barrel. Brent contract for July traded at USD 103.24 pb.