Mubasher: Oil prices went down on Tuesday, as global markets continue to anticipate the developments in Iran and Venezuela.

American crude oil decreased after reaching its highest level in three and a half years.

The United States announced new sanctions against Tehran.

Nymex futures for June delivery slipped 0.2% and settled at $72.13 per barrel, after reaching the level of 72.80 earlier in the session.

Meanwhile, brent crude jumped by nearly 1% to $80.01 a barrel.