Oil prices struggled to hold onto the $120 a barrel mark while gold sank further below the $900 level but grains and base metals put on a mixed performance as sentiment remained weak across commodity markets on Tuesday.

Nymex September West Texas Intermediate fell $2.41 to $119.00 a barrel after touching a low of $118.00, while ICE September Brent dropped $3.08 to $117.60 a barrel after sinking to a low of $116.91.