Oil prices fell more than 4 percent on Tuesday, pressured by stock market weakness and vows by top oil exporter Saudi Arabia to meet the demands of the world's oil consumers.
U.S. light crude ended Tuesday's session down $2.93, or 4.2 percent, to $66.43 a barrel, after earlier hitting a two-month low at $65.74. The contract posted its biggest daily loss since July 11, when it fell 5 percent, and settled below its 200-day moving average for the first time in more than a year.
International benchmark Brent crude fell by $3.70 a barrel, down 4.6 percent, to $76.13 by 2:28 p.m. ET. The contract earlier touched $75.88, its lowest level since Sept. 7.