Oil hits multi-week lows on fears of growing supplies | Reuters

Oil hits multi-week lows on fears of growing supplies | Reuters:

"Oil prices extended losses on Monday as Saudi Arabia and Russia said they may increase supplies while U.S. production gains showed no sign of slowing.

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Brent crude futures LCOc1 stood at $75.32 a barrel at 1805 GMT, down $1.12 from the previous close.

The contract touched a three-week low of $74.49 earlier in the session.

U.S. crude futures were at $66.47, down $1.41, after hitting a six-week low of $65.80."



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