BUSINESS INFORMATION - Oil prices fell slightly in Asian trade Thursday

BUSINESS INFORMATION - Oil prices fell slightly in Asian trade Thursday, in the middle of the action took profit after strong overnight driven mainly by greater than expected decline in U.S. crude oil stocks, analysts said.

The main futures contract, New York, crude oil light sweet "for October delivery fell seven cents to 72.44 dollars per barrel, as quoted by AFP.

Oil Brent North Sea crude for November delivery fell five cents to 71.62 dollars per barrel.

Data released Wednesday by the U.S. Energy Department showed crude oil stocks decreased the country's 4.7 million barrels in the week to 11 September.

Analysts polled by Dow Jones Newswires had expected an average decline of 2.5 million barrels.

Decline more sharply than expected crude oil stocks is seen as an indication that oil demand improved in the U.S., the largest energy users in the world.

The price of crude oil, which closed stronger Wednesday, also got a boost from positive data showing the U.S. the world's largest economy was recovering from the recession that began in late 2007.

In London, oil, Brent North Sea crude for November delivery, the new benchmark contract, rose 1.81 dollars to 71.67 dollars per barrel.

The market also got a lift from the "rally" Wall Street because the equity investors took heart in the U.S. economic data triggered optimism that the world's largest economy pulled out of recession.

U.S. industrial production jumped 0.8 percent in August, an increase in the second consecutive month, after the revision number rose 1.0 percent in July.

U.S. consumer prices rose 0.4 percent in August, with core inflation rate rose a moderate 0.1 percent. It is useful to ease concerns about the resurgence of deflation and inflation.