Crude oil price rises in Asia after last week's sell off

Crude was higher in Asian trade on Monday, clawing back some of the ground it lost in sharp sell-offs last week.

New York's main contract, light sweet crude for delivery in June, rose $1.18 to $98.36 a barrel. Brent North Sea crude for June delivery gained 52 cents to $109.65.

"Oil prices are heading up this morning primarily reacting to the very sharp loss late last week, which was too much and too fast," said Victor Shum, a Singapore-based analyst from Purvin and Gertz international energy consultancy.

"We therefore see some buying (as traders) considering the pricing level to be an buying opportunity," he added.

Positive employment data from the world's biggest oil consumer also provided a boost to oil prices.

The US Labor Department's stronger-than-expected non-farm job creation data released last Friday hinted at a growing US economy, although the overall unemployment rate also rose to nine per cent.