SINGAPORE (Dow Jones)--Crude oil futures were slightly higher in Asian trade Monday, as regional equity markets rose following gains on Wall Street Friday. But crude failed to maintain the momentum it built Friday on the back of a stronger euro, with the dollar clawing back some ground against the common currency Monday. Dollar-denominated oil futures contracts tend to rise when the dollar falls, as this makes oil cheaper for buyers in other currencies. On the New York Mercantile Exchange, light, sweet crude futures for delivery in November traded at $76.63 a barrel at 0652 GMT, up $0.14 in the Globex electronic session. November Brent crude on London's ICE Futures exchange fell $0.02 to $78.85 a barrel. Crude also took strength from U.S. durable goods data last week. While orders for durable goods dropped 1.3% in August, excluding transportation, new orders rose 2%, the Commerce Department reported. "Orders for capital goods reversed trend in August, and companies ordering capital equipment shows their faith in the economic recovery," according to Victor Shum at Purvin & Gertz in Singapore. "But the rally above $75 a barrel may be shortlived as fundamentally, the market remains weak." Crude will likely continue taking cues from equities, while the currency markets will provide bullish support as the dollar is likely to remain weak amid expectations of more quantitative easing by the U.S. Federal reserve, he said. Nymex reformulated gasoline blendstock for October--the benchmark gasoline contract--rose 39 points to $1.9510 a gallon, while October heating oil traded at $2.1340, 34 points higher. ICE gasoil for October changed hands at $682.50 a metric ton, down $0.25 from Friday's settlement. -By Gurdeep Singh, Dow Jones Newswires; 65-6415 4064; gurdeep.singh@dowjones.com

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