Crude-oil prices continued to slide on Tuesday after the International Energy Agency cut its forecasts for oil-demand growth this year and next.
In its closely watched monthly oil market report, the Paris-based energy watchdog cut its forecast for 2014 oil-demand growth by 200,000 barrels a day to just 700,000 barrels a day, its weakest in five years.
Prices have fallen more than 20% since mid-June as ample global crude supplies have grown faster than demand.