Singapore, October 27 (QNA) - Oil prices fell nearly 1% on Tuesday, with Brent crude futures slipping $1, or 0.86%, to $114.81 a barrel.

US West Texas Intermediate (WTI) crude futures also declined 88 cents, or 0.86%, to $100.88 a barrel, with both benchmarks extending losses after falling around 1% earlier in the session.

Brent crude surged above $117 a barrel last week, reaching its highest level since April, before touching that level again on Monday. (QNA)