Oil rises on smaller-than-expected build in U.S. crude stocks

By Mark Tay SINGAPORE (Reuters) - Oil prices rebounded in Asian trade on Wednesday after falling by as much as 3 percent in the previous session, as data from an industry group showed a smaller-than-expected build in U.S. crude stocks. The American Petroleum Institute (API) reported 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. Brent crude futures were trading at $47.34 per barrel at 0103 GMT, up 24 cents, or 0.5 p