Oil prices slumped in electronic trade on Wednesday, weighed by lingering concerns about a economic slowdown in China and a bigger-than-expected rise in U.S. inventories. April crude oil CLJ4 -1.36% lost $1.43, or 1.4%, to $98.60 a barrel, after settling at the lowest level in a month on Tuesday. The American Petroleum Institute said late Tuesday that crude supplies for the week ended March 7 climbed by 2.6 million barrels, which was a bit more than expected by analysts surveyed by Platts. Meanwhile, weaker-than-expected Chinese export data from earlier in the week continued to weigh on investors' minds, on fears that the country's economy is slowing down. Elsewhere in the energy complex, gasoline for April delivery RBJ4 -0.73% fell 0.7% to $2.95 a gallon, while heating oil for the same month HOJ4 -0.83% gave up 0.8% to $2.94 a gallon.
April natural gas climbed 0.2% to $4.61 per million British thermal units.
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