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| Oil prices fall on eve of US inventory data |
New York: Oil prices fell on Wednesday before the release of a report on US crude inventories as traders kept an eye on unrest in crude exporter Libya.
US benchmark West Texas Intermediate for delivery in March shed $1.39 to $52.14 a barrel compared with Tuesday´s close.
European benchmark Brent oil for April delivery slid $2.00 to $60.53 a barrel in London.
The US Department of Energy will release its weekly stockpiles report on Thursday with many analysts expecting another large rise in stocks.
Last week´s report showed that US crude inventories reached their highest levels on record for this time of the year.
"The market had a very nice rebound from the $44-45 low it made a little while back," said Kyle Cooper, analyst at IAF Advisors in Houston.
"But the fundamentals are still on the downside, and expectations are for a crude oil build" on Thursday.
"I don´t think the production growth is going to slow in the next couple of months."
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