There goes oil ...

Crude oil is falling again.

On Tuesday, the price of West Texas Intermediate crude oil was down about 1% to right around $US52.10 a barrel for the first time since early April. WTI briefly dipped below $US52 a barrel earlier.

On Monday, WTI crashed, falling more than 7%. Just a few weeks ago, WTI was above $US60 a barrel.

WTI had been sitting near $US60 a barrel or so for a few months after bottoming at $US43 in March.

And while oil inventories had been falling ever-so-slightly in the last few weeks, they still remain near 80-year highs.

Here’s the early drop in WTI prices on Tuesday after Monday’s sharp sell off.

NOW WATCH: How much sex you should be having in a healthy relationship

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.