SINGAPORE: Oil advanced further in Asian trade Monday, still cheered on by data showing the US economy contracted at a slower-than-expected pace in the second quarter, analysts said. New York's main contract, light sweet crude for September delivery, rose 17 cents to 69.62 dollars a barrel. Brent North Sea crude for September delivery advanced 48 cents to 72.18 dollars. Both contracts had closed higher Friday, buoyed by data from the Commerce Department that showed the US economy shrank at an annualised rate of 1.0 percent in the three months to June.LINK