Oil recovers from overnight losses

SINGAPORE, May 18 (AFP): Oil was higher in Asian trade today but lingering concerns over waning US demand will limit prices, analysts said. New York's main contract, light sweet crude for June delivery advanced 80 cents to $97.71 a barrel and Brent North Sea crude for July delivery gained 57 cents to $110.56. US government data released Tuesday showed a plunge in home construction in April, triggering concerns about the health of the world's largest economy. Housing starts tumbled 10.6 per cent from March and building permits, a forward-looking indicator, fell 4.0 per cent, the Commerce Department said.