Oil extend losses into 3rd day on U.S. stock build, pandemic fears

TOKYO: Oil prices extended their losses into a third day on Thursday as a surprise build-up in U.S. crude inventories and a resurgence of COVID-19 cases in India and Japan fuelled fears that a recovery in global economy and fuel demand may be stalled.

Brent crude futures fell 20 cents, or 0.3%, to $65.12 a barrel by 0527 GMT, following a drop of $1.25 on Wednesday. U.S. West Texas Intermediate (WTI) crude futures were down 21 cents, or 0.3%, at $61.14 a barrel, after losing $1.32 on Wednesday.