New york: Oil prices fell one percent at settlement on Tuesday. Brent crude futures dropped 72 cents, or one percent, to $70.77 a barrel. West Texas Intermediate crude futures also fell 68 cents, or one percent, to $65.63 a barrel.

According to National Iraqi News Agency, the decline in oil prices reflects ongoing market adjustments. The fluctuations in crude futures are influenced by various factors including global supply dynamics and geopolitical developments.

The price drop comes amidst concerns about economic growth and demand in key markets. Investors continue to monitor international trade tensions and their potential impact on the energy sector.