Brent crude prices trade below $73 as tensions escalate between US and Iran
Brent crude oil was down 10 cents, or 0.14 percent, at $72.96 a barrel by 0037 GMT, after settling down 1 cent on Monday. U.S. crude was down 9 cents, or 0.13 percent, at $67.80 a barrel. The contract fell 37 cents the previous day.
Saudi Arabia and large producers are ramping up output to offset losses. Image source: Reuters