Baghdad: Oil prices saw a notable decline on Tuesday, driven by growing concerns over a global economic slowdown amid escalating trade tensions between the United States and the European Union, two of the world's largest crude consumers. Brent crude futures dropped by 52 cents, or 0.75%, to settle at $68.69 a barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude fell by 51 cents, or 0.76%, to $66.69 a barrel. According to National Iraqi News Agency, the WTI contract for August is set to expire later today, while the more actively traded September contract dropped by 54 cents, or 0.82%, to $65.41 a barrel. The decline reflects mounting concerns that ongoing trade disputes could weigh heavily on global fuel demand growth.