Crude up in Asia on strong US data

Better-than-expected US housing data and durable goods orders in US helps prices

Oil prices rose in Asia today, supported by better-than-expected US housing data and durable goods orders in the United States, analysts said.

New York's main contract, light sweet crude for delivery in April gained 40 cents to $93.16 a barrel and Brent North Sea crude for April delivery added 36 cents to $112.23.

"Crude edged up on the back of stronger economic data," IG Markets said in a report.

The National Association of Realtors said yesterday that US pending home sales in January soared to their highest level in almost three years, a sign the market is well on the way to recovery.

Separately, official data also showed that durable goods orders -- stripping out volatile aircraft -- rose 1.9% in January, with capital goods orders even stronger.