Kuwaiti crude up to $103.77 per barrel

The price of Kuwaiti crude oil was up 56 cents in Monday's transactions, selling for USD 103.77 per barrel (pb) compared to Friday's USD 103.21 pb, Kuwait Petroleum Corporation said, Tuesday. Prices saw hikes yesterday amid positive data from the world's top consumers, the US and China. The US just published Q2 corporate results while China saw growth in GDP and industrial output. There are also forecasts of drop in US crude stockpiles, by some 1.8 million barrels, with the official reports on stockpiles due to be published tomorrow. Crude contracts for August delivery came to an average of USD 106.18 pb yesterday, peaking at USD 106.74 pb and hitting a low of USD 106.15 pb. Brent contracts meanwhile were at USD 109.09 pb.