Oil prices drop on worries about oversupply
Oil prices extended declines into a second session on Tuesday as attention shifted to the risk of oversupply, with market participants shrugging off escalating tensions between the United States and Iran. Brent crude oil was down 19 cents, or 0.3 percent, at $72.87 a barrel by 0345 GMT, after settling down 1 cent on Monday. U.S. crude was down 21 cents, or 0.3 percent, at $67.68 a barrel. The contract fell 37 cents the previous day. Earlier in Monday’s session, the market had risen aft...