India, Jan. 29 -- Oil prices dropped on Wednesday after data showed crude inventories in the U.S. rose in the week ended January 24th. Concerns about the outlook for oil demand from China continued to weigh on oil prices.
Easing worries about supply disruptions from Libya contributed as well to the drop in oil prices. According to reports, Libya's state-run National Oil Corp said oil exports were continuing without disruption following talks with protesters at the Es Sider and Ras Lanuf ports on Tuesday.
Worries about potential new tariffs hurt as well. On Tuesday, the White House reaffirmed President Donald Trump's plan to impose 25% tariffs on imports from Canada and Mexico from Feb. 1.
West Texas Intermediate Crude oil futures ended l...