NYMEX-Crude slips on rise in US stockpiles, weaker demand outlook

SINGAPORE, March 14 (Reuters) - U.S. crude futures fell in early Asian trade on Thursday on a bigger-than-expected rise in stockpiles in the world's top oil consumer, the United States, and as the International Energy Agency trimmed its oil demand growth forecast.

The U.S. benchmark slipped 20 cents to $92.32 a barrel by 0007 GMT, after ending 2 cents lower and snapping four days of gains. Brent fell 16 cents to $108.36, slipping for the fifth straight day.

FUNDAMENTALS

* U.S. crude inventories rose last week on increased imports, and gasoline fell as refineries processed less oil, data from the Energy Information Administration showed. Crude inventories rose 2.62 million barrels compared with analysts' expectations for a rise of 2.3 million barrels.

* Soaring U.S. oil production should be enough to allow consumers withstand most potential supply shocks, the International Energy Agency (IEA) said, as it cut estimates for global oil demand.

* President Barack Obama met with his toughest critics in Washington - House of Representatives Republicans - and made little headway in convincing them to accept his demand for tax increases as part of a deficit-reduction deal.

* U.S. retail sales expanded at their fastest clip in five months in February, the latest sign of momentum for an economy facing headwinds from higher taxes and pricier gasoline.

* The United States extended 180-day waivers on Iran sanctions to Japan and 10 European Union nations in exchange for their cutting purchases of the OPEC nation's crude oil, Secretary of State John Kerry said.

MARKETS NEWS

* The dollar climbed to a seven-month high against a basket of currencies on Wednesday and the blue chip Dow Jones stock index rose for a ninth straight session to notch yet another record after U.S. retail sales data stoked optimism on the economy.

* Commodities fell on Wednesday, snapping four straight days of gains, with a strong dollar and a general slowdown in demand pressuring prices for oil, metals and most crops.

DATA/EVENTS

* The following data is expected on Thursday:

- 1000 Euro zone Employment

- 1230 U.S. PPI inflation

- 1230 U.S. Current account

- 1230 U.S. Weekly jobless claims

(Reporting by Manash Goswami; Editing by Muralikumar Anantharaman)