Oil prices up in Asia as OPEC keeps production steady

Singapore, June 9 (AFP) Oil rose in Asian trade today after OPEC failed to agree to raise output to aid a faltering global economy, analysts said.

New York's main contract, light sweet crude for July delivery, gained 49 cents to USD 101.23 a barrel and Brent North Sea crude for July delivery rose 27 cents to USD 118.12.

"Crude is rallying because of OPEC at discord, failing to reach an agreement on higher output levels," Victor Shum, a Singapore-based analyst at Purvin and Gertz international energy consultancy, told AFP.