Oil prices fell on Wednesday, following a rise in U.S. crude stockpiles and easing worries over Libyan supply, while focus turned to potential U.S. tariffs on Canadian and Mexican imports.

Crude oil futures posted modest gains Tuesday, following U.S. benchmark stock indexes in recovering part of the previous session's sharp losses.

Oil prices declined today, Jan. 29, ahead of the Federal Reserve's decision on interest rates and US inventory data after the American Petroleum Insti

Oil prices were falling as traders assess the potential impact of U.S. trade tariffs on global growth and the stockpiles outlook. Brent crude was down 0.9% at $75.80 a barrel, while WTI traded 0.8% lower at $73.

Oil futures fell Wednesday morning, feeling pressure after industry data showed a large rise in crude inventories.