Singapore, SANA-Oil prices fell Tuesday as investors assessed new developments related to U.S. tariffs and a higher-than-expected increase in production by the OPEC+ alliance for the upcoming month of August.

According to Reuters, Brent crude futures dropped by 22 cents, or 0.3%, to $69.36 per barrel, while U.S. West Texas Intermediate (WTI) crude fell by 27 cents, or 0.4%, to $67.66 per barrel.

OPEC+ had announced just days ago that it would raise oil production by 548,000 barrels per day in August.

Reem Abdulhameed / Manar Salameh