KUWAIT, Sept 29 (KUNA) - Kuwait Petroleum Corporation announced today that the Kuwaiti crude price increased USD 0.23 in Wednesday's trading to settle at USD 102.39 per barrel, compared to USD 102.16 per barrel in Tuesday's trading. The slight increase in the crude oil prices yesterday was due to the continuous retreat of US dollar against other main currencies. The enthusiasm of investors besides the efforts of Euro zone leaders of easing tension in the markets is another reason that backed up the crude prices. The euro zone leaders are working to support the European countries from the sovereign debts by expanding the European Financial Stability Facility (EFSF). This will be of a great effect in supporting the oil prices. The unstable status continues in the markets due to the conflicting economic data. The price of 12-crudes basket of the Organization of Petroleum Exporting Countries (OPEC) were up USD 2.72 on Tuesday, settling at USD 104.53 per barrel, compared to USD 101.81 per barrel last Monday. Kuwaiti crude is one in a basket of 12 crudes produced by OPEC members, along with Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela).(end) mam.lb KUNA 291445 Sep 11NNNN

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