Despite better economic prospects, oil prices fell on Wednesday.

Brent crude futures fell 36 cents, or 0.6%, to $62.38 a barrel as of 8:43 a.m. GMT, while U.S. West Texas Intermediate crude was down 36 cents, or 0, 6%, to $58.97.
Analysts at ANZ Bank said optimism over the global economic outlook boosted sentiment in the crude oil market.

However, a possible increase in US fuel stocks and talks with Iran weighed.
U.S. crude inventories fell by 2.6 million barrels in the week ended April 2, while gasoline inventories rose by 4.6 million barrels and distillates inventories by 2.8 million barrels, three market sources said, citing the American Petroleum Institute (API).

Oil prices fell earlier this week after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, agreed to phase out oil production cuts to from May.