Oil falls up to 1% on worries of supply rising later in 2024

OIL prices eased as much as 1% in Asian trade on Tuesday, extending losses from a four-month low in the previous session, as investors worried about supply ticking up later in the year amid signs of weakening U.S. demand.

Brent crude futures fell 73 cents, or 0.93%, to $77.63 a barrel at 0638 GMT. Brent closed below $80 for the first time since Feb. 7, after falling more than 3% on Monday.