Kuwaiti crude price up 35 cents to $110.42 per barrel

Price of Kuwaiti crude oil rose 35 cents settling at USD 110.42 per barrel (pb) on Monday compared to USD 110.07 pb on last Friday, said Kuwait Petroleum Corporation on Tuesday. This slight increase in Kuwait crude price came as the Middle East region oil prices hiked due to the Syrian crisis which affects the oil supplies to the world, besides doubts of the possibility of a military attack against Syria, a matter leading to a remarkable decrease in the oil prices in the international markets. In London bourse Brent mix futures registered the biggest daily loss during the last three months, despite the decline of the dollar exchange rate, and the hike in stock markets, the crude prices dropped and Brent futures close at its lowest level since last August 26. In New York Exchange Market (NYSE) the US crude losses were less.