| GEO Business|
| Oil recovers in Asian trade|
| Updated at: 1240 PST, Monday, December 08, 2008|
SINGAPORE: Oil prices recovered in Asian trade Monday, rising by more than two dollars after sharp declines at the end of last week that came in reaction to a shocking set of US jobs data, dealers said.
New York's main contract, light sweet crude for January delivery, gained 2.48 dollars to 43.29 dollars after closing 2.86 dollars lower at 40.81 dollars on the New York Mercantile Exchange Friday.
It brushed the 40-dollar psychological barrier in intraday trade Friday, sinking to 40.50 dollars, its lowest level since December 2004.
Brent North Sea crude for January delivery rose 2.51 dollars to 42.25 dollars a barrel. The contract closed Friday 2.54 dollars down at 39.74 dollars, a low last seen in January 2005.