Lower oil prices due to rising US production and global demand concerns

Oil prices fell for the third straight day on Tuesday, as the IEA report expects rising US production and a decrease in global demand growth forecast.

In addition, analysts said that under pressure from oil prices, global commodities such as nickel and copper led the global commodity to be sold off, which is weaker than expected in China's economic data.

Brent crude futures fell 0.95 US dollars, or 1.5%, to close at 62.21 US dollars a barrel. U.S. crude fell $ 1.06, or 1.9%, to settle at $ 55.70 a barrel. Both crude oil contracts touched the lowest closing level since Nov. 3.