Oil prices fell over 1 percent on Tuesday, with Goldman Sachs warning that August’s price rally had been overdone and that a proposed oil production freeze at current near-record levels would not help rein in an oversupplied market. International Brent crude oil futures were trading at $48.54 per barrel at 0235 GMT (1035 ET), down 62 cents, or 1.26 percent, from their last close. U.S. West Texas Intermediate (WTI) crude was down 76 cents, or 1.6 percent, at $46.65 per barrel. Analysts said the falls were a result of an overdone price rally this month which lifted crude by over 20 percent between the beginning of the month and late last week. Since then, prices have fallen back by more than 3.5 percent. “While oil prices have rebounded sharply since Aug. 1, we believe this move has not been driven by incrementally better oil fundamentals, but instead by headlines […]