Oil futures extend losses, US crude hits lows for the year

Both US and Brent crude futures were down more than 2% in morning trade in Asia as fears of slowing demand from China came into focus.

West Texas Intermediate Futures fell as low as $73.86 a barrel, its lowest level since December 2021 Brent Crude Oil Futures slipped to $81.16 a barrel from session lows so far.

WTI was last down 2.58% at $74.31 a barrel, while Brent crude was last trading 2.37% lower…

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