Kuwait crude price down 30 cents to $106.32 per barrel

The Kuwaiti oil price fell by 30 cents to USD 106. 32 per barrel (pb) on Friday compared to USD 106.62 pb the day earlier, the Kuwait Petroleum Corporation (KPC) said here on Saturday. Global oil markets witnessed fluctuating oil prices on Friday, but they were buoyed by forecasts of high demand for fuel following strong employment data in the U.S., which is the world's leading oil consumer. The U.S. economy added 203,000 jobs last month, which lowered the unemployment rate from 7.3 percent to 7 percent, the best showing in five years, the Labor Department reported on Friday. While much of U.S. job growth in recent months occurred in retail and other low-wage industries, the industries that added the most jobs in November were comparatively higher-paying in the transportation, health care and manufacturing areas, the monthly data showed. More than 4 million Americans remain as long-term unemployed, and that number barely changed in November, the data showed. Oil futures prices at London Stock Exchange hiked by 63 cents or 0.57 percent to USD 111.61 pb, while U.S. light crude oil prices went up by 27 cents or 0.28 percent to USD 97.65 pb.