Crude up in Asia on strong US data
Oil prices rose in Asia Thursday, supported by better-than-expected US housing data and durable goods orders in the United States, analysts said.
New York's main contract, light sweet crude for delivery in April, gained 26 cents to $93.02 a barrel in the afternoon and Brent North Sea crude for April delivery added 19 cents to $112.06.
"Crude edged up on the back of stronger economic data," IG Markets said in a report.
The National Association of Realtors said Wednesday that US pending home sales in January soared to their highest level in almost three years, a sign the market is well on the way to recovery.
Separately, official data also showed that durable goods orders -- stripping out volatile aircraft -- rose 1.9 percent in January, with capital goods orders even stronger.