Kuwaiti crude up 59 cents to $104.61 per barrel

Price of Kuwaiti crude oil went up 59 cents in Thursday's trade to settle at an average USD 104.61 per barrel (pb), compared to USD 104.02 the day before, said Kuwait Petroleum Corporation on Friday. The rise in oil price in yesterday's trade was due to positive data on US economy that showed an improvement in the industry sector; an indication that the world's largest oil consumer's economy is recovering steadily. Another impact on oil price was a report by the US Labor Department that showed a job growth of 162,000. The jobless rate fell to 7.4 percent. In New York, the crude oil future contracts for September delivery recorded the highest at USD 108.82 pb and the lowest at USD 107.67 pb.