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Sharjah24 – Archyde.com: Oil prices fell on Thursday, extending losses from the previous session, as fears of supply disruption eased on news that the Group of Seven (G7) nations were considering a high price cap on Russian oil.
A greater-than-expected build-up in U.S. gasoline inventories added to downward pressure.
Brent crude futures had slid 43 cents, or 0.5%, to $84.98 a barrel by 0102 GMT, while U.S. West Texas Intermediate (WTI) crude futures dropped 35 cents, or 0.5%, to $77.59 a barrel.
Both benchmark contracts plunged more than 3% on Wednesday on news that the planned price cap might be above the current market level.
