SINGAPORE: World oil traded more than three dollars higher in Asia on Monday after world leaders united to tackle a global financial crisis.

New York''s main contract, light sweet crude for delivery in November, was 3.10 dollars higher at 80.80 dollars a barrel, recovering from one-year lows reached on Friday.

The contract had plunged 8.89 dollars to 77.70 at the end of last week, in tandem with a global equities meltdown on fears of recession that would crimp demand for energy.

Brent North Sea crude for November traded 2.58 dollars higher at 76.67 dollars. On Friday in London, Brent fell by 8.57 dollars to settle at 74.09 dollars. Oil prices have already plunged from record highs above 147 dollars, reached in July, because of demand worries, dealers said.