Oil prices eased on Tuesday after hitting mid-2015 highs in early trading, as major pipelines in Libya and the UK restarted and U.S production soared to the highest in more than four decades.
It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 per barrel, buoyed by large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.
U.S. West Texas Intermediate (WTI) crude futures ended Tuesday's session down 5 cents at $60.37 a barrel. In early trading WTI hit $60.74, the highest since June 2015.
Brent crude futures, the international benchmark, were at $66.49 a barrel, down 38 cents by 2:21 p.m. ET (1921 GMT). The session high of $67.29 was the highest since May 2015.