Crude prices fell on Tuesday for the second consecutive day as demand fell on crude ahead of U.S. inventory data, even as the dollar slipped against main currencies.
U.S. crude futures last traded at $51.34 a barrel, down from the opening price of $51.76, with an intraday high at $52.34, and a low at $51.15.
Crude's drop comes amid mounting negative pressures due to expectations of higher producers levels from the U.S. and Iraq, which might offset the decline in OPEC and Russian production, after the U.S. rig count rose last week.
Markets now focus again on U.S. crude inventories to gauge the size of American production and its impact of global oversupply, which pushed prices lower.
On the other hand, crude prices fell despite dollar's decline against major rivals, which would've buoyed the futures, but oversupply concerns had the bigger impact.