Oil prices fall on huge build in U.S. crude stocks

By Osamu TsukimoriTOKYO (Reuters) – Oil prices dropped on Wednesday in the wake of industry data that showed a huge build in U.S. crude stockpiles. London Brent crude for May deliverywas down 8 cents at $36.73 a barrel by 0117 GMT, after settling up 24 cents on Tuesday. The contract touched an intraday peak of $37.25 on Tuesday, the highest since Jan. 5. NYMEX crude for April deliverywas down 34 cents, or around 1 percent, at $34.06 a barrel, after settling up 65 cents on Tuesday on the ba