Oil prices dip on U.S. gasoline stock build

Oil prices slipped on Thursday after U.S. government data showed that gasoline stocks and distillate inventories rose last week, although falls were checked by continuing Middle East geopolitical tensions. Data from the Energy Information Administration (EIA) showed crude inventories (USOILC=ECI) fell by 2.7 million barrels to 467.93 million last week, more than analysts' expectations for a decrease of 1.7 million barrels. Gasoline stocks (USOILG=ECI) rose by 460,000 barrels, more than analysts' expectations in a Reuters poll for a 314,000-barrel drop but far less than the fall of 2.9 million barrels reported by the API.

Oil prices dip on U.S. gasoline stock build source: http://finance.yahoo.com/news/oil-prices-dip-u-gasoline-021229996.html