U.S. oil prices slip more than $1 on API build

07 April 2009 @ 06:48 pm EDT

U.S. crude oil futures fell more than $1 a barrel after Tuesday's settlement as the American Petroleum Institute reported a big build in crude supply.


Workers repair an oil pump jack in Baku
Workers repair an oil pump jack in Baku, March 17, 2009.
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May delivery crude hit $48.14 a barrel on the New York Mercantile Exchange's Globex trading platform.

Earlier on Tuesday, U.S. crude settled at $49.15 a barrel, down $1.90. It was the third straight trading session that crude prices slipped.

(Reporting by Bernie Woodall)

Copyright 2009 Thomson Reuters. All rights reserved.

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