Oil down in Asian trade

SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.

Weak demand and surging crude stockpiles in the world's biggest economy have put downward pressure on prices and limited gains.

New York's main contract, West Texas Intermediate light sweet crude for delivery in July, dropped 42 cents to $95.76 a barrel and Brent North Sea crude for July delivery shed 32 cents to $103.59.