Oil settles sharply lower

Oil prices slumped on Tuesday and continued to pull back from last week’s highs amid resurgence of Brexit concerns and a stronger US dollar.

West Texas Intermediate for August delivery fell 4.9% to settle at $46.60 a barrel on Nymex, with a low made at $46.33/bbl.

Investors will be watching US crude inventory reports, from API and EIA, which were delayed this week due to the Independence Day holiday.