NEW YORK, Jan. 2 (Xinhua) -- Oil prices dropped on Tuesday as Libyan and UK North Sea oil pipelines that suffered recent outages restarted.

The West Texas Intermediate for February Delivery lost 5 U.S. cents to settle at 60.37 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery erased 30 cents to close at 66.57 dollars a barrel on the London ICE Futures Exchange.