Oil recovers slightly in Asia trade

Oil prices rose slightly Monday in Asia, clawing back part of a big fall triggered by weak US jobs figures as regional stock markets steadied.

Benchmark crude for September delivery was up 31 cents at $81.01 a barrel at late morning Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.31 Friday to settle at $80.70.

Oil's fall on Friday was sparked by a Labor Department report that showed private employers hired 71,000 workers in July – way below the level needed to lower the unemployment rate which remained stuck at 9.5 percent.

That suggests US demand for fuel will remain subdued as Americans keep a tight rein on personal spending.

Asian stock markets were initially mixed Monday as investors absorbed the jobs figures but most indexes later moved into positive territory.

Brent crude was up 33 cents at $80.49 a barrel on the ICE futures exchange.