Oil prices tumble, in tandem with Wall Street

New York

OIL prices tumbled on Wednesday as financial markets slid amid concerns that Washington's plans for import tariffs could spark a trade war, and after US government data showed an increase in crude inventories and output.

Brent crude futures for May delivery fell US$1.45 to settle at US$64.34 a barrel, a 2.20 per cent loss. Brent traded between US$63.83 and US$65.80 during the session.