TOKYO (Nov 2): Crude oil prices fell for a fourth day on Wednesday, with jittery investors awaiting official U.S. stockpile figures later in the day after less comprehensive industry data showed a surprise build in inventories. In the previous session it hit a one-month low at $47.72 before settling down on the day at $48.14. The API report typically comes a day before official inventory data from the U.S. government's Energy Information Administration (EIA), which is considered more reliable. If the government data confirms the large build, traders said earlier crude prices are likely to slump. In the poll carried out by Reuters on Tuesday before the API numbers were released, analysts had expected a build of 1 million barrels.

Source: The Edge Markets November 02, 2016 00:41 UTC