India, Feb. 26 -- Despite data showing an unexpected drop in U.S. crude inventories, oil prices drifted lower on Wednesday amid concerns about the outlook for demand.
News about U.S. and Ukraine agreeing on a minerals deal has eased concerns about a conflict between the two nations, and raised the possibility of increased crude supply from the European region.
The development has removed much of the supply uncertainty as it has riased prospects of the U.S. lifting some of the sanctions on Russia.
The Trump administration's tariff policies could slowdown global economic growth and result in a drop in oil demand.
West Texas Intermediate Crude oil futures for April settled lower by $0.31 at $68.62 a barrel.
Brent crude futures were down $...