Mubasher: Oil prices fell on Tuesday, following the monthly report issued by the International Energy Agency (IEA).
NYMEX crude decreased 2.4% to reach $45.1 per barrel (pb), while Brent crude slid 2% to reach $47.3 pb.
IEA expected the oil market to be oversupplied during the first six months of 2017, in line with the sharp decline in global oil demand growth, and rising inventories and supply.
