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Oil falls as rising trade tensions between the United States and China
Follow - up / ... Oil prices fell in trading on Tuesday, with the escalation of trade tensions between the United States and China.
China imposed customs duties on imports from the United States, in response to a similar decision from the latter, referring to plans to impose tariffs on crude imports.
By 0552 GMT, Brent crude futures for August delivery fell 0.78 percent, or 59 cents, to $ 74.75 a barrel.
US crude futures for July delivery fell 0.82 percent, or 54 cents, to $ 65.3 a barrel.
OPEC members and independent producers will meet in the Austrian capital Vienna on June 22 to decide on production policy.
Prospects for Russia and Saudi Arabia are expected to increase supplies to meet the global supply shortfall, due to a decline in potential production in Iran and Venezuela caused by US sanctions.
The United States sanctions on Tehran - after its withdrawal last month from the nuclear deal - will come into force in August, with Washington pledging to impose "harsh" sanctions on Tehran and its cooperating countries.
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