Oil prices fell on Wednesday in Asia as uncertainty on the Sino-U.S. trade front intensified.
Citing people familiar with the matter, Bloomberg reported on Tuesday that U.S. officials are concerned that China might refuse to accept U.S. demands in the countries' ongoing trade talks.
Meanwhile, Chinese negotiators want to receive more assurances that tariffs imposed on Chinese goods would be lifted once a deal is struck.
U.S. Crude Oil WTI Futures declined 0.3% to $59.12 by 12:49 AM ET (04:29 GMT). International Brent Oil Futures slipped 0.1% to $67.50.
Oil prices received some support on Tuesday, with the May contract for Brent hitting a four-month peak at $68.2, after the American Petroleum Institute (API) reported a surprise draw in crude oil inventory of 2.133 million barrels for the week ending March 15.
Source : Investing.com