Crude oil prices dropped in Asian market today

SINGAPORE: Oil prices rose in Asian trade Thursday, pushed up by a surprise drop in US gasoline reserves, dealers said.

New York's main contract, light sweet crude for April delivery, gained 23 cents to 42.73 dollars a barrel.

Brent North Sea crude for April delivery was up 21 cents to 44.50.

The unexpected drop in US gasoline supplies is the main factor behind the jump in crude oil prices but this is likely to be short-lived, said Victor Shum, a Singapore-based analyst with energy consultancy Purin and Gertz.

"It would be premature to say that oil now has turned the corner because the weak economy remains a threat to the oil market, but the downward momentum in oil pricing has been broken," said Shum.