Crude slips in Asia on US energy demand concerns

Oil fell in Asia on Thursday on demand concerns after US data showed a sharper-than-expected rise in crude inventories in the past week, analysts said.

New York's main contract, light sweet crude for delivery in November shed 10 cents to $92.02 a barrel and Brent North Sea crude for December delivery retreated two cents to $113.20.

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A larger-than-expected gain in US crude stockpiles raised demand concerns among traders, said Sanjeev Gupta, who heads the Asia-Pacific oil and gas practice at Ernst & Young.

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Posted in: Asia, Business, Crude Oil, Energy Demand, Oil, sale, USA