Kuwait - Mubasher: The price of Kuwaiti oil increased 86 cents on Friday, according to the Kuwait Petroleum Corporation (KPC).

Kuwaiti crude oil registered $45.38 per barrel (pb) Friday up from $44.52 pb on Thursday, as reported by the Kuwait News Agency (KUNA).

Oil prices also went up on the global level, after the release of data showing a decline in US crude reserves.

The price of the Brent crude rose to $48.91 pb, while the West Texas Intermediate (WTI) reached $46.62 pb.