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Oil extends declines after steep losses in previous two sessions

Oil extends declines after steep losses in previous two sessions
5 Aug 2026 09:25

SINGAPORE (WAM)

Oil extended declines on Wednesday after steep falls in the previous two trading sessions.

Brent crude futures dropped 92 cents, or about 1.2 percent, to $78.44 a barrel by 0330 GMT.

They have tumbled more than 12 percent for the week thus far.

US West Texas ​Intermediate futures lost $1.07, or 1.4 percent, to stand at $74.70 a barrel and are down ​more than 11 percent this week.

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