International

Global oil prices continued the week's rout with benchmark Brent crude falling for a fourth consecutive session on Tuesday to its lowest in almost six years, despite Chinareporting record crude imports.

Both Brent and U.S. crude are at their weakest since early 2009 after dropping for seven straight weeks as oversupply clashes with slowing demand. They have plunged almost 60 percent since June last year.

"Oversupply and weak demand still plagues the oil market. These fundamental factors ... will continue to push it down if (they) do not change," Singapore-based Phillip Futures said in a note.

February Brent crude LCOc1 fell to a low of $46.39 a barrel before edging back to $46.53 by 0550 GMT, still down 90 cents since its last settlement. U.S. crude for February CLc1 was at $45.35 per barrel, down 72 cents, after hitting a session low of $45.18.

The price rout comes as banks slash their oil price outlooks.