Price of Kuwaiti crude oil increased USD 87 cents to USD 112.82 per barrel on Monday compared to USD 111.95 pb on Friday, Kuwait Petroleum Corporation said in a statement on Tuesday. The price rise of the Kuwaiti crude coincided with mounting fears, resulting from threats by Iran to shut the strategic Hormuz strait through which a third of the world\'s supplies of crude oil passes. Its possible closure is forecast to result in soaring prices of the crude oil.