04:57 AM EDT, 09/23/2025 (MT Newswires) -- Crude oil prices edged lower on Tuesday on prevailing oversupply concerns and an uncertain demand outlook.

Brent crude at last look lost 0.3% to US$66.39/barrel and West Texas Intermediate crude was down 0.2% to US$62.15/b. This comes after a preliminary agreement between Iraq and Kurdish regional governments to restart an oil pipeline via Turkey exacerbated worries about global oversupply, Reuters said in a Tuesday report, citing two oil officials.

The restart will allow exports of about 230,000 barrels per day to resume from Iraqi Kurdistan since they were halted in March 2023, the report said.

The global oil market remains braced for elevated supply as members of the Organization of the Petroleum Exporting Countries and allied producers boost output along with continued increases in non-OPEC supply.

Meanwhile, demand is seen to be slowing due to electric vehicles' rapid rise and tariff-driven economic woes, Reuters reported.