Oil prices tumbled on Tuesday, weighed down by exceptions to US sanctions to allow Iran's biggest buyer to continue importing from Tehran, as well as concerns about an economic slowdown that could curb fuel demand growth.
At 0653 GMT, US WTI crude futures were at $ 62.90 a barrel, down 20 cents, or 0.3 percent, from the previous settlement.
Brent crude fell 47 cents, or 0.6 percent, to $ 72.70 a barrel.
Analysts said the outlook for an economic slowdown in the coming months had a negative impact on fuel demand estimates, while supply concerns eased after Washington granted exemptions to eight Iranian oil importers, allowing them to continue buying.
