Oil pares gains as oversupply concerns weigh

By Ahmad Ghaddar LONDON (Reuters) - Oil prices pared gains on Wednesday after falling by as much as 3 percent in the previous session amid concerns that the rebalancing in the global oil market will take longer than originally envisaged. Prices were supported earlier in the session by data from the American Petroleum Institute (API) which showed a crude build of 1.4 million barrels for the week ended Sept. 9, smaller than the 3.8-million-barrel rise expected by analysts. U.S. West Texas Intermed