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Singapore: Oil was slightly higher in Asian trade today but investors remained cautious over the outlook for energy demand as worries remain over the strength of the US economic recovery, analysts said.
New York's main contract, light sweet crude for December delivery gained 25 cents to USD 77.25 a barrel.
Brent North Sea crude for December delivery was two cents higher at USD 75.22.
While data released last Thursday showed the US has emerged from a prolonged recession, consumer spending, which accounts for two-thirds of the nation's economic activity, fell in September.
"I think the reality is that the economic signals out there have been mixed," said Victor Shum, a Singapore-based analyst with energy consultancy Purvin and Gertz.
"Last week there was positive US (gross domestic product) but consumer spending was quite negative.
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