Brent Plunges To 5-Month Low On China, Europe Factory Data
Investors have also continued to watch the Ukraine crisis, which has raised fears of possible supply disruptions from Russia, the world's second-largest oil exporter.
In a gesture that could ease tension in the worst East-West stand-off since the Cold War, Russia pulled some troops back from near Ukraine's eastern frontier, a move the United States said would be a positive sign if confirmed as a withdrawal.
Analysts said Tuesday's price falls will likely flatten out later in the week.
"We're not necessarily at the start of a crater," said Phil Thompson, director of Mobius Risk Group in Houston. "(Tuesday's) moves are a little bit exacerbated because liquidity is dropping."
(Additional reporting by David Sheppard in London and Florence Tan in Singapore; editing by David Gregorio, Marguerita Choy and Tom Brown)
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