Brent crude oil prices fell below $100 per barrel in volatile trade on Tuesday, a fourth straight daily decline as ample supplies weighed, while U.S. crude rose on the expectation of dwindling fuel stockpiles.
Prices were not far above Monday's 16-month low as feared cuts to supply due to violence in the Middle East have failed to materialize, and production resumed at Britain's North Sea Buzzard oilfield after a series of shutdowns and failed restarts.
In the United States, expectations of another fall in crude inventories supported prices, as did news of a delayed start up of the Pony Express pipeline that will carry crude from Wyoming to Oklahoma.
Brent crude fell 75 cents to $99.45 by 1:59 p.m. EDT (1759 GMT). On Monday, prices slid below $100 for the first time in more than 14 months, hitting a low of $99.36, the weakest since May 1, 2013. Brent is down 11 percent so far this quarter, the biggest such drop since the second quarter of 2012.
U.S. crude settled up 9 cents at $92.75, snapping a three-day losing streak.