Oil prices gave up early gains on Tuesday as risks stemming from the Paris attacks and the French air strikes in Syria faded.
Oil turned lower as traders turned their focus back to the global oversupply in crude and petroleum products.
U.S. crude fell 1.14% to $41.27 a barrel, while Brent futures were down 0.56% to $44.31 at 6.54 AM Eastern Time.
Analysts said that despite the Paris attacks and French air strikes on ISIS in Syria, prices would remain low for the rest of 2015.
Oil prices have fallen more than 60% since June 2014 as high production and record inventories coincided with slowing global demand.