Kuwaiti crude dips 12 cents to $105.24 per barrel

Price of Kuwaiti crude oil lost 12 cents in Monday trade to settle at an average USD 105.24 per barrel (pb), compared to Friday's USD 105.36, said Kuwait Petroleum Corporation on Tuesday. The New York exchange saw falls in oil prices following release of worse than expected data on the US real estate sector. The bi-annual testimony of Federal Reserve President Ben Bernanke before Congress last week on monetary policy following recovery in the US dollar's appeal among investors also influenced prices, as the US remains the world's top energy consumer. Crude oil rated around USD 107.29 pb in New York yesterday, touching a peak of USD 108.58 pb and hitting a low point of USD 106.94 pb.