Oil prices declined in early trading on Wednesday, as concerns about slowing demand from China, the largest crude importer, increased following negative trade data, overshadowing fears about tightening global supply due to production cuts from Saudi Arabia and Russia.
Brent crude futures fell by 17 cents, or 0.2%, to $86 a barrel by 00:39 GMT.
U.S. West Texas Intermediate crude was recorded at $82.73 a barrel, down 19 cents or 0.2%.
Both contracts had increased by nearly a dollar in the previous session.
Chief analyst at Sanward Trading, Chiu-Ki Chen, stated, "Oil prices are struggling to gain further rise due to ongoing concerns about the slow recovery of the Chinese economy and fuel demand."
