The crude oil markets are a little soft in the early hours of Wednesday, as the market is waiting for the crucial Federal Reserve interest rate announcement, and the inventory numbers coming out of the USA.

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. Brent crude futures were down 59 cents,

Oil prices fell on Wednesday, with the U.S. benchmark settling at its lowest year to date, after domestic crude stockpiles in the world's top petroleum producer and consumer rose more than expected last week.