NNA - Oil prices slipped in early trade on Wednesday after industry data showed a surprise build in U.S. crude stocks, while investors awaited U.S. inflation data for April that could give direction for the Federal Reserve's next rate decision.

Brent crude dropped 16 cents to $77.28 a barrel at 0008 GMT, while U.S. West Texas Intermediate (WTI) crude dipped 20 cents to $73.51, paring gains from the previous session.

In a possible sign of weakening demand, U.S. crude inventories rose by about 3.6 million barrels in the week ended May 5, while gasoline stockpiles rose by 399,000 barrels, the American Petroleum Institute reported on Tuesday according to market sources.

The data defied expectations from eight analysts polled by Reuters for a 900,000-barrel drawdown in crude inventories and a 1.2 million-barrel drop in gasoline stocks.--Reuters 

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