WORLD CAPITALS (WAM)
Oil prices inched lower on Wednesday, extending the previous session's declines.
Brent crude futures dipped 16 cents, or 0.2 percent, to $78.80 a barrel by 0340 GMT, while US West Texas Intermediate fell 25 cents, or 0.3 percent, to $75.80 a barrel.
Both benchmarks fell about five percent for a second straight session on Tuesday to stand at three-month lows.