Oil prices suffer more losses, stocks mixed

Oil prices extended losses Tuesday after below-par US and Chinese data reinforced recession expectations, while equities were mixed as traders debate whether the data will allow central banks to temper their interest rate hikes.

Wall Street provided a strong lead as tech firms were supported by bets that the Federal Reserve will not lift borrowing costs by 75 basis points for a third straight meeting next month.

Both main crude contracts dropped again, having lost around three percent the day before, as demand expectations are lowered in light of a string of soft economic indicators in major economies.