KUWAIT, Oct 29 (KUNA) -- The price of Kuwaiti crude oil rose 77 cents in the Friday trading reaching the level of USD 107.45 per barrel compared to USD 106.68 pb in the Thursday operations.
The rise of the price of the Kuwaiti crude coincided with a decision by the European states, adopting a package of measures to cope with the sovereign debts crisis in the euro zone.
The prices of oil have been affected with an agreement among euro zone states to increase the resources for the financial salvage fund one trillion euros. These decision by the European leaders tapered off fears vis a vis economic sluggishness that in turn affected demand for the crude.
These prices dropped on Thursday due to reports from Japan about slump in the industrial sector.
Meanwhile, jitters remained prevailing across the global oil market. However, this unstable situation helped in keeping the prices at the level of USD 100-110 pb. (end) asj.rk KUNA 291031 Oct 11NNNN
