Oil prices down

Singapore
Oil prices fell on profit-taking in Asia Tuesday after rallying in the previous session owing to doubts the nuclear agreement between Iran and global powers will immediately boost Tehran´s crude exports, analysts said.
US benchmark West Texas Intermediate (WTI) fell 35 cents to $51.79, while Brent dipped 51 cents to $57.61 in late-morning trade.
West Texas Intermediate jumped $3 while Brent bolted $3.17 on Monday.
“The current decline in oil prices is most likely due to profit-taking as investors sold at rising prices to secure gains,” Ken Hasegawa, energy trading manager at Newedge Group in Tokyo, told AFP.
Analysts attributed the steep increase on Monday to investors concluding that the nuclear framework agreed between Iran and international powers will have a minimal near-term effect on the international crude supplies.