India, June 4 -- Crude oil futures moved to the downside during trading on Wednesday, giving back ground after moving sharply higher over the two previous sessions.
After surging $2.62 or 4.3 percent to $63.41 a barrel over the first two days of the week, crude for July delivery fell $0.56 or 0 .9 percent to $62.85 a barrel.
The pullback by the price of crude oil partly reflected easing supply concerns as rains slowed the growth of some blazes that had disrupted Canadian crude production.
According to Bloomberg, one Canadian operator restarted a site after shutting down last week.
Disappointing U.S. economic data also weighed on oil prices, with separate reports showing weaker than expected private sector job growth and an unexpected co...