Oil prices extend losses

LONDON – Oil prices continued losses on Thursday afterwards already falling a day beforehand on abstracts absolute a bead in petroleum articles in the United States, the world's arch activity consumer.

In morning trading here, Brent North Sea awkward for commitment in August alone 86 cents to 67.93 dollars a barrel.

New York's capital contract, ablaze candied awkward for August commitment fell 93 cents to 68.38 dollars a barrel.

Oil prices had concluded lower on Wednesday afterward a alloyed address on US activity inventories.

The US Administration of Activity said in its account address that American awkward oil affluence confused 3.7 actor barrels in the anniversary catastrophe June 26, the fourth account bead in a row.

But the administration additionally appear growing calm inventories of key aesthetic articles gasoline and distillates.

Gasoline or petrol stocks rose 2.3 actor barrels, and distillates, which accommodate agent and heating duel, added by 2.9 actor barrels aftermost week.

Prices had alone on Tuesday from eight-month peaks aloft 73 dollars afterwards new abstracts showed a attempt in American customer confidence.

Barclays Capital said in a address Wednesday that oil prices cannot be abiding beneath 70 dollars into the average term.

The bazaar charcoal anxious by tensions in key awkward ambassador Nigeria.

Nigerian rebels on Monday appear a new arrest adjoin a Shell oil ability and said they had dead at atomic 20 soldiers in a gun battle, a affirmation denied by the aegis forces.

While a Shell agent accepted the arrest and said it had acquired a accident of production, Nigeria's accumulated badge and army collective assignment force (JTF) denied there had been any affray with the rebels.

The Niger Delta has back 2006 been rocked by abandon by armed groups who say they are angry for a greater allotment of the region's oil abundance for the bounded population.