Oil Prices Dropped On Middle east Cyclone Fear Eased

Oil prices fellon Tuesday, as Middle East cyclone fears eased, but concerns over gasoline supply in the United States kept crude above the $70 mark.

London Brent crude shed a cent to $70.39 a barrel by 0327 GMT, after climbing $1.33 on Monday on concerns the storm could disrupt shipping and output in the Middle East.

U.S. light crude fell 18 cents to $66.03 a barrel.