U.S. CRUDE SLIPS ON SURPRISE BUILD IN STOCKPILES

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U.S. CRUDE SLIPS ON SURPRISE BUILD IN STOCKPILES SINGAPORE, Nov 27 (Reuters) – U.S. crude futures fell in early Asian trade on Wednesday on demand-growth concerns after an industry report showed a higher than expected build in stockpiles in the world’s largest oil consumer. U.S. crude CLc1 had fallen 11 cents to $93.57 a barrel by 0014 GMT, after ending 41 cents lower – below the 10-day moving average of $93.96. Brent LCOc1 settled 12 cents down at $110.88 overnight. U.S. crude stocks rose sharply last week, by 6.9 million barrels in the week to Nov. 22 to 390.2 million barrels, compared with analyst expectations for an increase of 600,000 barrels, data from industry group the American Petroleum Institute showed on Tuesday. But distillate stockpiles, which include diesel and heating oil, fell by 1.7 million barrels, compared with expectations for a 1.1 million-barrel drop, the data showed. API/S

American Petroleum Institute oil

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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