Kuwaiti crude price rises to $96.09

Price of Kuwaiti crude oil rose USD 1.29 in Friday's trading to USD 96.09 per barrel compared to USD 94.80 pb in Thursday's operations, Kuwait Petroleum Corporation said in a statement on Saturday. On the international markets, forward crude deals closed, on Friday, with gains -- in the second consecutive session -- following a bearish trends that had persisted for six days. Brent crude contracts for the June delivery closed with rise of 52 cents, 0. 52 percent, settling at USD 99.65 pb. The Brent closed on Wednesday at lowest level since July 2012, posting USD 97.69 pb. In New York Mercantile Exchange (NYMEX), contracts of the American light crude for the May delivery concluded trading with rise of 28 cents, 0.23 percent, settling at USD 88.01 pb. Persisting jitters resulting from prospected rise of oil production in the US, along with fall of global demand, have checked hike of the prices. However, the market is likely to restore relative stability following a week of falls where the prices have shed eight percent of their value. Simultaneously, prices of basic commodities, along with those of the gold and silver, have also been bearish.