WASHINGTON (dpa-AFX) - Crude oil futures slipped Wednesday despite confirming a drop in U.S. oil supplies. Markets were rattled by concerns over a brewing trade war between the U.S. and China, but managed to recover from steep early losses.
WTI light sweet oil futures fall 14 cents, or 0.2%, to end at $63.37 a barrel
The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning showing that U.S. commercial crude inventories decreased by 4.6 million barrels last week.
That's roughly in line with yesterday's report from the American Petroleum Institute, which reported a draw of 3.3 million barrels.
Private sector employment in the U.S. increased by more than expected in the month of March, according to a report released by payroll processor ADP on Wednesday.
ADP said employment surged up by 241,000 jobs in March after jumping by an upwardly revised 246,000 jobs in February.
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