Crude prices fall on profit-taking

Crude prices lost Tuesday as some traders cashed profits following Monday's rise.

U.S. crude prices gained 1.4 percent on Monday, boosted by geopolitical worries. It has climbed more than 4 percent since dropping below 100 U.S. dollars on Tuesday last week.

The tensions in Ukraine showed signs of easing on Tuesday, with pro-Russia fighters in eastern Ukraine clearing the departure of a train loaded with the bodies of victims from the crashed Malaysia Airlines jet and handing over the black box to the Malaysian government.

Traders were also closely watching the development in the crude- rich Middle East after Israel launched a ground offensive again Hamas militants in Gaza.

U.S. Secretary of State John Kerry arrived in Cairo Monday to start negotiations in an attempt to broker a cease-fire between Israel and Hamas.

Energy Information Administration is scheduled to release the report of U.S. crude inventories of last week. Markets expected a 2.9-million-barrel drop.

Light, sweet crude for August delivery moved down 17 cents to 104.42 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery lost 35 cents to close at 107. 33 dollars a barrel.