| GEO Business|
| Oil prices rise slightly in Asian trade|
| Updated at: 1232 PST, Thursday, August 28, 2008|
SINGAPORE: World oil prices gained slightly in Asia on Thursday despite a tropical storm's threat to oil installations in the Gulf of Mexico and bullish inventory data, analysts said.
New York's main contract, light sweet crude for delivery in October, rose 55 cents to 118.70 dollars a barrel after a gain of 1.88 dollars to 118.15 at the close of trading on the New York Mercantile Exchange Wednesday.
Brent North Sea crude for October was 27 cents higher at 116.49. The contract rose 1.59 dollars to settle at 116.22 in London on Wednesday.