Oil prices are falling due to Chinese data fueling concerns about demand

Oil prices fell in early trading on Wednesday, as concerns about slowing demand from China, the largest crude importer, increased after negative trade data, outweighing concerns about shrinking global supply in light of production cuts from Saudi Arabia and Russia.

Brent crude futures fell 17 cents, or 0.2 percent, to $86 a barrel by 0039 GMT.

US West Texas Intermediate crude recorded $82.73 a barrel, down 19 cents, or 0.2%.

Both contracts had increased by nearly a dollar in the previous session.