Oil prices remain below $95 per barrel

Benchmark oil for August delivery was down 34 cents to $94.60 a barrel late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude last settled down 48 cents at $94.94 on Friday. Financial markets in the US were closed Monday for the Independence Day holiday.In London, Brent crude for August delivery was down 41 cents to $111 a barrel on the ICE Futures exchange. The euro fell to $1.4477 Tuesday from $1.4541 late Monday while the dollar rose to 81.10 yen from 80.75.Crude fell to near $90 early last week after the International Energy Agency announced on June 24 the gradual release of 60 million barrels of oil from strategic reserves.