Oil prices up in Asian trade

Singapore
Oil rose in Asia Thursday as dealers digested a mixed US energy report showing a dip in crude inventories, but barely any decline in production despite sinking prices.
US benchmark West Texas Intermediate for October delivery gained 87 cents to $39.47 while Brent crude for October rose $1.01 to $44.15 in afternoon trade.
The US Department of Energy said on Wednesday that the US crude supplies unexpectedly fell by 5.5 million barrels for the week ending August 21, indicating healthy demand.
However, US crude production slipped a scant 11,000 barrels a day in the same period, keeping output above 9.3 million barrels and not far from a decades-high production level.
In another bearish indicator, gasoline supplies increased by 1.7 million barrels, adding to concerns of a global glut of energy supplies.