Oil slips 4 percent on global economic jitters, supply build

By Barani Krishnan

NEW YORK (Reuters) - Oil prices fell about 4 percent on Tuesday amid concern about an economic slowdown sparked by Britain's exit from the European Union and data showing a build in stockpiles at the delivery point for U.S. crude futures.

Worries about the impact of leaving the EU hit Britain's property market and drove the pound to a 31-year low. A flurry of data from China in the coming weeks is expected to show weakness in trade and investment.

Traders also cited as another bearish factor data from market intelligence firm Genscape showing a build of 230,025 barrels at the Cushing, Oklahoma storage hub for U.S. crude futures during the week to July 1.

Brent crude was down $1.84, or 3.7 percent, at $48.26 a barrel by 10:31 a.m. EDT (1431 GMT).

U.S. crude fell $1.89, or 3.9 percent, to $47.10 a barrel. It fell more than $2 at the session low.

"There are risk-off trades across the board," said David Thompson, executive vice-president at Washington-based commodities broker Powerhouse.

"Stocks, commodities, sterling are all off while U.S. bond and T-bills are soaring."

(Additional reporting by Alex Lawler in LONDON and Henning Gloystein in SINGAPORE; Editing by David Evans and Frances Kerry)