Oil futures traded modestly lower early Wednesday, pulling back from strong gains seen the previous session amid a broad commodity rally sparked by China’s announcement of an aggressive monetary stimulus plan.

Oil prices fell more than 1% on Wednesday as investors reassessed whether China's latest stimulus plans will be able to boost its economy and spur fuel demand in the world's largest crude importer. Still,

Crude oil prices rise on China's economic stimulus package, Israel airstrikes, and U.S. Gulf of Mexico hurricane threat.