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RTRS:UPDATE 3-Oil slips to $103 on demand worries
 
* U.S. East Coast gasoline inventories rise, supply ample

* IEA, other oil forecasters point to weak global demand

* Dollar near 4-month low, supports commodities
* Coming up: U.S. retail sales for May at 1230 GMT (Previous SINGAPORE, updates prices)

By Alex Lawler

LONDON, June 13 (Reuters) - Oil slipped to $103 a barrel on Thursday as a subdued outlook for global demand due to weak economic growth outweighed disruptions on the supply side and a falling U.S. dollar.

The World Bank cut its outlook for global growth, saying the economy should expand by 2.2 percent versus 2.3 percent in 2012, citing a deeper-than-expected recession in Europe and a slowdown in some emerging markets.

Brent crude slipped 51 cents to $102.98 a barrel by 0903 GMT. Prices have declined from a 2013 high near $120 reached on Feb. 8. U.S. oil fell 52 cents to $95.36.

"The demand picture is still very subdued at the moment," said Carsten Fritsch, analyst at Commerzbank, who added that the falling U.S. currency had lent support to Brent. "The only thing that is likely to have prevented its price from falling is the weaker U.S. dollar."

The dollar was near a four-month low against a basket of currencies, falling as investors reduced bets on gains in the U.S. currency taken out on expectations the Federal Reserve would soon scale back monetary easing.

A weak dollar makes dollar-denominated commodities cheaper for holders of other currencies and tends to support oil prices.

A number of reports this week have highlighted a weak demand outlook.

On Wednesday, a U.S. government report showed inventories of gasoline on the East Coast rose to their highest since February 2012, suggesting ample supplies as the summer, when motor fuel demand rises, gets under way.

The International Energy Agency said modest economic growth was limiting oil demand worldwide, and some developed economies would see absolute declines in oil consumption in 2013.

The two other oil forecasters closely watched by investors, the Organization of the Petroleum Exporting Countries and the U.S. government's Energy Information Administration, cut their global oil demand growth forecasts on Tuesday.

Oil also drew support from disruption to flows. Libya is struggling to hold output stable, while supply of North Sea crude which underpins Brent is expected to be more sharply reduced than usual by maintenance this summer. (Reporting by Manash Goswami and Alex Lawler; editing by Keiron Henderson)
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