Oil prices extend losses on supply, trade war fears - Reuters

Oil prices extend losses on supply, trade war fears - Reuters:

Oil prices slipped for a third day on Wednesday as a surge in U.S. stocks reinforced concerns about lackluster global economic growth, while hopes ebbed for any movement on the U.S.-China trade war.

West Texas Intermediate crude futures CLc1 erased early gains to trade down 17 cents, or 0.31%, at $55.04 a barrel by 0930 GMT. Brent crude futures LCOc1 were at $60.70 a barrel, down 21 cents, or 0.34%.

Crude inventories in the United States rose by 6 million barrels last week to 445.9 million, the American Petroleum Institute, an industry group, said on Tuesday.