Oil prices dropped on Thursday, extending losses from the previous session, as signals of higher supply from the United States met worries about lackluster energy demand from Asia.
Brent futures fell 28 cents to $80.90 a barrel by 0001 GMT. U.S. West Texas Intermediate crude (WTI) lost 31 cents to $76.35 a barrel.
Both benchmarks fell over 1.5% in the prior session.
WTI’s front-month contract was also lower than the second month, a structure known as contango, showing investors expect prices to increase ahead.
