US crude oil futures down over 7% in early Asia trade

March 10 (Reuters) - U.S. crude futures fell more than 7% on Tuesday in early Asia trade after hitting their highest level since June 2022 in the previous session.

On Monday, Russian President Vladimir Putin, in a telephone conversation with U.S. President Donald Trump, put forward proposals for a quick settlement of the conflict around Iran, Kremlin foreign policy aide Yuri Ushakov said.

U.S. West Texas Intermediate (WTI) crude CLc1 futures were down $7.23, or 7.6%, at $87.54 a barrel as of 2206 GMT. The contract hit a session high of $119.48 on Monday.