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Oil prices extend losses on supply glut concerns

Xinhua, October 18, 2016 Adjust font size:

Oil prices retreated further Monday, as worries about a global supply glut weighed on the market.

The West Texas Intermediate for November delivery fell 0.41 U.S. dollar to settle at 49.94 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery decreased 0.43 dollar to close at 51.52 dollars a barrel on the London ICE Futures Exchange. Endit