According to the traders, U.S. crude futures settled down more than 1.4 percent, that is 55 cents, after initially growing over 2 percent. Now it's priced at $39.51 a barrel. The previous two months, oil rose above $50 a barrel.
Meanwhile, the dollar hit a six-week low.
Experts believe that the government of the USA will report falling of crude stockpiles 1.4 million barrels last week. A preliminary inventory report is to be issued on Wednesday by Trade group American Petroleum Institute (API).