Oil prices fell in early Asian trade on Wednesday after a U.S. industry group reported crude stocks rose more than expected last week and as investors reined in expectations for interest rate cuts by the U.S. Federal Reserve. Brent futures fell 29 cents, or 0.4%, to $82.48 when the market opened at 0000 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 22 cents, or 0.3%, to $77.65 a barrel.
U.S. crude oil inventories rose 8.52 million barrels in the week ended Feb. 9, according to market sources citing American Petroleum Institute figures released late on Tuesday. The build was much bigger than the 2.6 million barrel increase that analysts polled by Reuters expected.
