Brent crude oil futures fell to around $60.8 per barrel on Tuesday, extending losses from the previous session, as growing concerns over a global oversupply and uncertainties surrounding US-China trade negotiations kept markets on edge. The volume of crude stored at sea has now climbed to a record high, signaling a deepening imbalance in the market and reinforcing the prevailing bearish outlook. As of the week ending October 17, approximately 1.24 billion barrels of crude and condensate were in transit via tankers, up slightly from the previous week’s revised total of 1.22 billion barrels. Meanwhile, markets are closely watching the upcoming negotiations between U.S. and Chinese officials in Malaysia, seen as a critical precursor to a high-stakes summit between President Donald Trump and President Xi Jinping later this month.