Oil is extending downside on Tuesday morning in Asia further below $70 per barrel amid the fears that a Trump administration will spark a tariff-led trade war and concerns about demand growth in China. Trump has announced his intention to impose a blanket tariff ranging from 10% to 20% on all imports and additional tariffs on up to 60% of products imported from China. Besides, strength in dollar overseas is also adding pressure on the commodity that is currently quoting at 67.84 per barrel, down 0.32% on the day. Oil inventories data this week will be carefully watched for further cues.