Oil prices declined for a third straight session on Tuesday as concerns about a trade dispute between the United States and the European Union raised worries over fuel demand growth.
Brent crude fell 53 cents, or 0.8%, to $68.68 a barrel by 1219 GMT. U.S. West Texas Intermediate crude dropped 63 cents, or 0.9%, to $66.57. The August WTI contract, which expires on Tuesday, declined while the more active September contract was down 52 cents to $65.43 a barrel.
The Trump administration has set an August 1 deadline for countries to reach trade agreements or face tariffs. The EU is considering broader counter-measures as talks with Washington show little progress.
The U.S. has threatened to impose a 30% tariff on EU imports if no agreement is reached.
Despite the overall decline, a weaker dollar helped limit some losses as buyers using other currencies paid less for crude. Stronger distillate margins, supported by low inventories, also helped support prices.
In the U.S., crude oil inventories likely fell by about 600,000 barrels last week, according to a government survey.
