04.04.201807:16:00UTC+00Crude Oil Tumbles On Trade War Shock

Crude oil futures fell Wednesday amid demand concerns due to the impending U.S.-China trade war.

Prices failed to rally even after a drop in U.S. oil inventories.

The American Petroleum Institute on Tuesday said U.S. crude-oil inventories fell by 3.3 million barrels last week.

The Energy Information Administration is out with its supply figures at 10:30 am ET.

WTI light sweet oil was down $1.14 a barrel to $62.37 a barrel.

Eurozone inflation accelerated in March largely on food prices, flash data from Eurostat showed. Inflation rose to 1.4 percent in March from 1.1 percent in February, staying below the European Central Bank's target of 'below, but close to 2 percent'.