By Henning Gloystein
SINGAPORE, Nov 11 (Reuters) - U.S. crude oil prices fell in
early Asian trading on Wednesday after industry data showed an
increase in U.S. stockpiles, while fears that Japan's economy
may have fallen into recession added to demand woes.
Benchmark U.S. crude futures CLc1 slipped to a two-week
low at $43.55 a barrel and were trading down over half a dollar
from their last close at $43.68 by 0003 GMT.
The price drop came on the back of rising stocks in North
America and slowing economies in Asia.
U.S. crude stocks jumped by 6.3 million barrels in the week
to Nov. 6 to 486.1 million, data from industry group the
American Petroleum Institute showed late on Tuesday, compared
with analysts' expectations for an increase of 1 million
barrels.
On the demand side, confidence among Japanese manufacturers
fell in November for a third straight month to levels unseen in
more than two years, a Reuters poll showed on Wednesday,
reflecting fears that a China-led slowdown in overseas demand
may have pushed Asia's second-biggest economy into recession.
"The weakness of global manufacturing activity is ...
putting pressure on energy demand," JBC Energy said, adding that
it expected a significant drop in oil demand growth in 2016.
(Editing by Richard Pullin)