Dhaka, July 22 -- Oil prices declined on Tuesday as concerns the brewing trade war between major crude consumers the US and the European Union will curb fuel demand growth by lowering economic activity weighed on investor sentiment.

Brent crude futures fell 52 cents, or 0.75 per cent, to $68.69 a barrel by 0325 GMT. US West Texas Intermediate crude was at $66.69 a barrel, down 51 cents, or 0.76 per cent. Both benchmarks settled slightly lower on Monday.

The August WTI contract expires on Tuesday and the more active September contract was down 54 cents, or 0.82 per cent, to $65.41 a barrel, according to Reuters.

"Broad demand concerns continue to simmer amid escalating global trade tensions, especially as markets eye the latest tariff t...