Oil prices down more than 1 percent on rising supply, trade war | Reuters

Oil prices down more than 1 percent on rising supply, trade war | Reuters:

Oil prices dropped more than 1 percent on Tuesday on signs of rising supply and concern that global economic growth and demand for fuel will fall victim to the U.S.-China trade war.

Brent crude LCOc1 futures fell $1.43, or 1.9 percent, to settle at $75.91 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 86 cents to settle at $66.18 a barrel, a 1.3 percent drop.

Earlier in the session, Brent reached a session low of $75.09 a barrel, the lowest since Aug. 24. WTI slumped to $65.33 a barrel, the weakest since Aug. 17.