Oil dips in Asian trade on higher inventory spook - NDTV.com

Oil prices dipped in Asian trade on Wednesday bucking a recent trend as the market braced for a larger-than-expected rise in crude inventories, analysts said.

Oil Tanks India manufacturing facility.

New York's main futures contract, light sweet crude for delivery in March, fell 42 cents to $76.81 a barrel. London's Brent North Sea crude for March delivery was down 31 cents to $75.75. Analysts said rallies on the oil market experienced over the past few days had been stemmed by numbers released by the American Petroleum Institute (API) yesterday indicating a build-up in US crude stockpiles.

Full Story: Oil dips in Asian trade on higher inventory spook - NDTV.com