The easier tone is however likely to be temporary as factors that drove the market higher, such as concerns over US gasoline (petrol) reserves and geopolitical tensions in the Middle East, remain, they said.

At 2:25 pm (0625 GMT), New York's main contract, light sweet crude for July delivery, was down 15 cents to 68.94 US dollars a barrel from 69.09 dollars in late US trades Monday when it had jumped as much as 1.09 dollars.

Brent North Sea crude for July dropped 18 cents to 72.00 dollars.

Dealers said continued concerns about US demand for gasoline during the current peak summer driving season drove oil prices higher overnight and remained supportive.