LONDON, June 18: Oil prices fell on Tuesday, with New York crude retreating from its recent nine month peak on profit-taking, as dealers eyed this week’s interest rate meeting of the US Federal Reserve.

New York’s main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, slid 12 cents to $97.65 a barrel. The contract had jumped on Monday to $98.74, reaching a level last seen in September 2012.

Elsewhere on Tuesday, Brent North Sea crude for August slipped 11 cents to $105.36 a barrel.

“Crude oil prices retreated, in a bit of correction lower on Tuesday, giving back yesterday’s gains as investors were prompted to some profit taking,” said Sucden brokers analyst Myrto Sokou.—AFP