Oil was higher in Asian trade today, recovering from overnight losses sparked by disappointment over the lack of new stimulus plans to boost the US economy and the eurozone. New York's main contract light sweet crude for September delivery advanced 23 cents to 87.36 dollars a barrel and Brent North Sea crude for September delivery was 31 cents higher at 106.21dollars.The two contracts had closed lower on Thursday after the US Federal Reserve and European Central Bank announced no fresh stimulus actions to boost economic activity.