WTI crude oil futures are retreating under $60 per barrel mark on Tuesday morning in Asia amid renewed concerns about oversupply. Prices also declined following reports that Russia's Novorossiysk port resumed oil loadings on Sunday after a two-day shutdown caused by a Ukrainian attack. However, geopolitical risks continue to offer some support to crude prices. The commodity is currently trading at $59.58 per barrel, down half a percent on the day.

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