Oil prices rebounded in Asian trade today on optimism that key data out of the US later this week will show the world's biggest economy was continuing its steady recovery, analysts said.
New York's main contract, light sweet crude for delivery in May, climbed 49 cents to $80.49 a barrel.
Brent North Sea crude for May delivery was up 36 cents to $79.65 per barrel.
The Institute of Supply Management will release its manufacturing index on the sector's growth Thursday and the Labor Department's report on non-farm payroll employment is to follow Friday.
"I think people are looking towards the data due out later this week and thinking (it) will confirm the view of economic recovery," said David Moore, an analyst with the Commonwealth Bank of Australia in Sydney.
Oil prices declined Friday after weaker-than-expected US economic growth data overshadowed the impact of a rescue plan for debt-ridden Greece, traders said.
Data showed Friday that the US economy -- a top global oil consumer -- grew at a slower pace than previously thought in the fourth quarter, as business and consumer spending slackened amid a fragile recovery from recession.
The US economy grew 5.6 per cent in the October-December period, the Commerce Department said, revising downward an earlier estimate of 5.9 per cent.
Analysts had expected the world's largest economy to grow 5.9 per cent in the final quarter from 2.2 per cent in the third quarter.
The slower growth stemmed from downward revisions to business investment, inventories, and consumer spending, the department said.
