LONDON, Oct 30: IPE Brent crude oil futures fell below key support on Thursday, pushed down by a sliding New York market as traders digested US government stock data showing a crude build for the third week running, traders said.

By 1625 GMT, December Brent had slid to $27.02 a barrel, down 42 cents and well under the previous support level of $27.20. NYMEX December crude futures fell 36 cents to $28.55.

Prices slipped 57 cents on Wednesday after US government data showed a 3.6-million-barrel crude build and record crude imports for the week to October 24. Traders said speculative funds and technical trading dominated the day as long positions were liquidated and technical levels breached.

“After this sharp fall, we might hold and see new rallies at $27.50-80, but the market is establishing a new lower range,” one IPE trader said.—Reuters