Oil Eased a Bit

Oil prices slid on Tuesday but remain above $72 as expected crude stock drawdowns in the United States spark concerns over supply tightness in the world's largest energy consumer.

London Brent crude presently a better reflection of the global crude oil market, traded 13 cents lower at $72.50 a barrel by 0230 GMT, after hitting $72.77 in the previous session, the highest since August.

U.S. light crude inched down 15 cents to $70.94.