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Oil extends losses despite IEA warning of spare capacity limits

Reuters  |  NEW YORK 

By Jessica Resnick-AultNEW YORK (Reuters) - Oil prices fell on Thursday, extending the previous session's sharp losses as Libyan exports resumed, despite the International Energy Agency's (IEA) warning that the world's oil supply cushion "might be stretched to the limit" due to production losses.Brent crude oil fell 30 cents a barrel to $73.10 a barrel by 11:24 a.m. EDT (1524 GMT), after earlier trading at a session low of $72.67. On Wednesday, the global benchmark had slumped $5.46, or 6.9 percent, its biggest one-day fall in two years U.S. crude fell 88 cents to $69.50 a barrel, after ...

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First Published: Thu, July 12 2018. 21:04 IST