Oil Prices Gained Awaiting OPEC Meeting

Oil prices were higher in Asian trade Thursday ahead of a ministerial meeting of the Organisation of the Petroleum Exporting Counties in Vienna, dealers said.

They said the market was also helped by a steadier performance on Wall Street overnight after the sharp plunge on Tuesday.

At 10:40 am, New York's main contract, light sweet crude for April delivery, was up 20 cents to $58.36 a barrel from $58.16 in late US trade.

Brent North Sea crude for April was eight cents higher at $61.14.