Despite a softening of trade concerns, oil markets still face an abundance of supplies that puts pressure on producers to keep their prices competitive in order not to lose market share.
U.S. WTI crude futures were at $63.26 a barrel at 0031 GMT, down 16 cents, or 0.3 percent, from their previous settlement.
Brent crude futures were at $68.52 per barrel, down 13 cents, or 0.2 percent.
The dips came after a more than 2 percent rally on Monday during European and American trade hours.
"Oil prices rose sharply (on Monday) as a weaker U.S.-dollar and easing concerns about the trade war saw investor appetite return," ANZ bank said.
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