Kuwaiti crude price slightly drops

Kuwaiti oil price dropped 35 cents reaching USD 102.41per barrel in Friday's trades, as compared to USD 102.76 pb on Thursday, KuwaitPetroleum Corporation (KPC) said in a statement on Saturday.International oil markets were affected, on Friday, with forecast low global demandby the International Energy Agency in 2014, with forecast resumption of Libyancrude supplies, next week. Against this background, prices of the Brent crudes fell. In the London bourse, Brent contracts dropped 13 cents, at 0.12 percent, settling atUSD 107.33 pb, rising by 0.5 percent at the weekend.In the New York market, forward contracts of the American crude rose, on Friday,reaching the highest level in six weeks, buoyed by demand hike for benzene and apositive report as to consumers' confidence. However, earnings were stemmed byprofit-generating trades and forecast crude demand fall.Meanwhile, contracts of the American light crude rose for the May delivery, settlingat USD 103.74 pb, rising by 34 cents, some 0.33 percent, ending the contracts for theAmerican crude for the week with gains, estimated at 2.5 percent.