Ammon News - Crude oil prices fell on Tuesday as investors lowered their demand growth expectations due to the ongoing trade war between the United States and China, the world's two biggest economies.

Brent crude futures fell by 51 cents, or 0.8%, to $65.35 per barrel by 0635 GMT. U.S. West Texas Intermediate crude futures fell 50 cents, or 0.8%, to $61.55 a barrel. Both benchmarks fell more than $1 on Monday.

"Markets are closely monitoring the U.S.-China trade negotiations, understanding that deteriorating trade relations between the world's two largest economies could lead the global economy towards a recession," said Priyanka Sachdeva, senior market analyst at Phillip Nova.

"A substantial (oil) price decrease appears probable if exporting countries boost production," oil analyst Philip Verleger said in a note.

Industry group American Petroleum Institute will publish its estimates on U.S. oil inventories on Tuesday. Official figures from the Energy Information Administration will follow on Wednesday. Reuters