Kuwaiti oil price drops to $102.7 per barrel

 Price of Kuwaiti oil barrel dropped 11 cents reaching USD 102.70 on Tuesday compared to USD 102.81 on Monday, Kuwait Petroleum Corporation (KPC) said on Wednesday.As for international oil markets, prices of forward deals for brent crude oil rose, on Tuesday, due to fears of lack in crude supplies caused by the developing Ukrainian crisis. Moreover, price of the American crude oil dropped due to jitters over increased oil demands in the US and China, the world's top oil consuming countries.Brent crude contracts for April delivery had risen 47 cents or 0.43 percent reaching USD 108.55 pb upon settlement in London's stock exchange, while prices of light American crude oil contracts dropped USD 1.09 or 1.08 percent, reaching USD 100,03 pb upon settlement in New York Mercantile Exchange (NYMEX).