Oil prices mixed in Asia

Oil prices were mixed in Asian trade today as a larger than expected rise in US gasoline reserves offset a spike in crude stockpiles, analysts said.

New York's main contract, light sweet crude for delivery in December, rose two cents to $81.96 a barrel.

Brent North Sea crude for December was down a cent to settle at $83.22.

Oil markets were digesting data released by the US Department of Energy late Wednesday showing a jump in crude stockpiles against a slump in gasoline inventories, analysts said.

"Price declines were limited by a large fall in US gasoline inventory," said the Commonwealth Bank of Australia in a report.

Crude inventories rose by five million barrels in the week ended October 22, far higher than market expectations for a modest gain of 700,000 barrels, according to analysts polled by Dow Jones Newswires.

However, gasoline stockpiles tumbled 4.4 million barrels against expectations for a 200,000-barrel decline.