Oil fell $1 to below $71 a barrel on Tuesday, giving up some of the previous day's 3 percent gain amid worries about a rise in U.S. crude inventories.

U.S. crude fell $1 to $70.58 a barrel by 1:30 a.m. EDT, while London Brent crude was down 81 cents to $72.74.

(Reporting by Fayen Wong)