Global oil prices on Tuesday morning are declining after a noticeable increase during the trading day earlier, trading data shows.

The price of July futures on Brent crude oil fell by 0.32% down to $113.87 per barrel while July futures on WTI crude oil fell by 0.34% to $111.44.

Monday night the price of Brent crude oil rose above $115 a barrel for the first time since 28 March.