NEW YORK, Dec. 12 (Xinhua) -- Oil prices retreated on Tuesday after surging over one percent in the previous session.

The West Texas Intermediate for January Delivery lost 0.85 dollar to settle at 57.14 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery erased 1.35 dollar to close at 63.34 dollars a barrel on the London ICE Futures Exchange. Enditem