Oil fell in Asia on Thursday on demand concerns after US data showed a sharper-than-expected rise in crude inventories in the past week, analysts said. New York’s main contract, light sweet crude for delivery in November shed 10 cents to $92.02 a barrel and Brent North Sea crude for December delivery retreated two cents to $113.20. A larger-than-expected gain in US crude stockpiles raised demand concerns among traders, said Sanjeev Gupta, who heads the Asia-Pacific oil and gas practice at Ernst & Young. “Crude prices edged slightly lower, dragged down by oil demand concerns and the uncertain economy,” he told AFP. The US Department of Energy late Wednesday announced that crude supplies increased by 2.86 million barrels in the week ending October 12, a gain more than twice as large as analysts expected.
