Oil prices fall on signs of rising supply, economy worries | Reuters

Oil prices fall on signs of rising supply, economy worries | Reuters:

Oil prices fell on Thursday to extend losses from the previous session, pressured by signs of rising supply and by growing concerns that demand may weaken on the prospect of a global economic slowdown.

Brent crude futures for January had dropped 37 cents, or 0.49 percent, to $74.67 per barrel by 0527 GMT. West Texas Intermediate (WTI) crude futures declined 29 cents to $65.02 a barrel.

Both benchmarks posted their worst monthly performance since July 2016 on Wednesday, with Brent down 8.8 percent for the month and WTI shedding 10.9 percent.