Oil prices fall on prospects of increased supplies

Oil prices fell on Tuesday morning, as investors weighed the prospects for ample supply in the crude market, Report informs referring to trading data.

The price of April Brent crude futures fell 0.69% from the previous close to $64.32 per barrel, while March WTI futures fell 0.64% to $60.27.

Markets are expecting increased crude supplies following recent news from Kazakhstan's Tengizchevroil and the US-based Chevron.

Yesterday, the press service of operator Tengizchevroil announced the resumption of oil production at the Tengiz field, which had been interrupted following an accident.