UPDATE 7-Brent oil prices slip as U.S. crude stocks rise

* US crude stocks up, products draw down - EIA

* IEA cuts demand outlook, contrasts with OPEC, EIA

(Rewrites lead, updates prices, market activity; changes byline and dateline, pvs LONDON)

NEW YORK, Feb 13 (Reuters) - Brent crude oil prices slipped on Wednesday after the U.S. Energy Information Administration (EIA) said crude inventories in the United States rose last week.

The inventory rise in the world's largest oil consumer turned prices lower after they rose earlier on strong European economic signs.

U.S. crude inventories rose by 560,000 barrels in the week ending Feb. 8, though the gain was slightly less than expected by analysts, while stockpiles of gasoline and distillates fell, according to the EIA weekly report.

"I thought the numbers looked pretty bullish overall, though the market was perhaps expecting bigger draws after the API numbers last night," said Andy Lebow, vice president at Jefferies Bache in New York.

Front month Brent futures were 5 cents down at $118.61 a barrel at 12:22 p.m. EST (1722 GMT), having earlier touched a session high of $119.12. The March Brent futures contract expires today. The April contract was down 5 cents at $117.70.

U.S. crude futures were down 6 cents at $97.45.

In early trading, prices were supported by positive economic data as a Reuters poll showed that the euro zone is slowly starting to emerge from recession.

However, the International Energy Agency (IEA) on Wednesday trimmed its outlook for global oil demand growth by 90,000 barrels per day, briefly weighing on prices in early European trade.

On Tuesday both the EIA and the Organization of the Petroleum Exporting Countries had raised forecasts for demand this year.

The IEA report on Wednesday also said Iranian oil exports will likely fall further as the West tightens sanctions on Tehran. Exports from Iran have already fallen to the lowest level in 30 years, the IEA said.

(Additional reporting by Robert Gibbons in New York and Simon Falush and Dasha Afanasieva in London; Editing by William Hardy and Bob Burgdorfer)