NYMEX-Oil dips below $95.60 on persistent demand concerns
TOKYO, June 13 (Reuters) - U.S. oil prices edged down on Thursday, reversing gains from the previous day, after an unexpected build-up in U.S. inventories and as the International Energy Agency said demand would remain sluggish.
* NYMEX crude futures for July delivery were down 31 cents at $95.57 a barrel by 0013 GMT, after settling 50 cents higher at $95.88 on Wednesday.
* The contract had hit a three-week high of $96.45 on Wednesday, helped by a fall in the dollar.
* Spot Brent crude for July settled 53 cents higher at $103.49 a barrel on Wednesday. The contract expires on Thursday.
* The IEA in its monthly report on Wednesday made little change to its global demand and supply forecasts for this year, saying demand would remain sluggish.
* That followed both OPEC and the U.S. Energy Information Administration (EIA) cutting their global oil demand growth forecasts on Tuesday.
* The IEA also said the world is heading for a glut of refined products as new Asian and Middle East refineries increase oil processing in a move likely to force less advanced competitors in developed countries to close.
* Weekly U.S. crude stockpiles rose 2.52 million barrels last week, defying expectations of a 700,000 barrel draw, data from the EIA showed. The report followed data released by the American Petroleum Institute on Tuesday that crude oil stocks rose 9 million barrels last week.
* BP Plc is set to begin production on an upgraded crude distillation unit at its 405,000 barrel-per-day (bpd) Whiting, Indiana, refinery within seven to 10 days.
* The United States is debating what more it might do to help the Syrian opposition in its civil war against the government, U.S. Secretary of State John Kerry said on Wednesday without giving any details. Conflict in the Middle East could curb oil supplies.
* U.S. stocks fell on Wednesday, with the Dow sliding more than 100 points on another volatile day as traders extended a selloff driven by concern about central banks winding down their stimulus measures.
* The U.S. dollar was at a near four-month low against a basket of major currencies early in Asia on Thursday.
* The following data is expected on Thursday: (Time in GMT)
1230 U.S. Import prices mm May
1230 U.S. Retail sales mm May
1230 U.S. Jobless claims Weekly
1400 U.S. Business inventories mm Apr
(Reporting by Risa Maeda; Editing by Joseph Radford)