Tokyo - Oil prices climbed in Asia on Thursday but lingering worries over the crude supply glut held down gains sparked by stronger US demand and a falling dollar, analysts said.
The US benchmark, West Texas Intermediate for September delivery, turned higher in afternoon trade, rising 10 cents to $43.40. Brent crude for September gained 15 cents to $49.81.
Prices had moved off six-year lows on Wednesday on news that US crude supplies fell - a sign of stronger demand in the world's top oil consumer - and the dollar declined.
The US Department of Energy on Wednesday said the estimated amount of crude oil in the country's commercial storage tanks tumbled 1.7 million barrels to 453.6 million barrels in the week ending August 7.
The report also said US domestic oil production fell 70 000 barrels a day to about 9.4 million barrels, which is positive for oil prices in an oversupplied market.