Oil prices climbed about $1 the previous day, reaching their highest since March 6."Crude's rally hit a brick wall after the API report showed a sharp rise in stockpiles and on President Trump's warning that the coronavirus pandemic in the U.S.
is likely to worsen," said Edward Moya, senior market analyst at OANDA in New York."The crude demand outlook just got a double whammy with what could be the biggest rise in stockpiles since late May if confirmed by the EIA report tomorrow and on Trump's downbeat virus briefing."The U.S.
Energy Information Administration (EIA) will release official oil inventory data later on Wednesday.Economic data from Japan, the world's fourth-largest oil consumer, also weighed on prices.