U.S. oil prices slip more than $1 on API build

LOS ANGELES (Reuters) - U.S. crude oil futures fell more than $1 a barrel after Tuesday's settlement as the American Petroleum Institute reported a big build in crude supply.

May delivery crude hit $48.14 a barrel on the New York Mercantile Exchange's Globex trading platform.

Earlier on Tuesday, U.S. crude settled at $49.15 a barrel, down $1.90. It was the third straight trading session that crude prices slipped.

(Reporting by Bernie Woodall)