* WTI crude futures down over 10 pct in November
* Analysts see little chance of big price rise this year
By Henning Gloystein
SINGAPORE, Nov 13 (Reuters) - U.S. crude oil dipped further
in early trading on Friday to over two-month lows as prices fall
over 10 percent since the beginning of November.
Benchmark U.S. crude futures CLc1 were at $41.70 a barrel
at 0021 GMT, down five cents from Thursday when prices tumbled 4
percent on the back of high rising U.S. stocks.
"Crude prices dropped to the lowest level in more than two
months after U.S. oil stockpiles climbed for a seventh week,"
ANZ bank said on Friday referring to official U.S. data that saw
crude inventories rise by 4.2 million barrels last week against
a market expectation of just a 1.3 million barrel gain.
ANZ also said that big price rises this year were unlikely:
"A year end recovery in commodity prices remains unlikely with a
stronger US$ and EM (emerging market) growth concerns."
Oil markets have been dogged by oversupply, which analysts
estimate to be between 0.7 and 2.5 million barrels of oil being
produced everyday without a buyer, and which has resulted in
prices falling by almost two-thirds since June 2014.
(Editing by Michael Perry)