Oil extends declines after Iraq, Kurdish governments agree to restart oil pipeline

— Reuters

OIL prices declined for a fifth consecutive session on Tuesday, as a preliminary agreement reached between Iraq and Kurdish regional governments to restart an oil pipeline added to oversupply concerns.

Brent crude futures lost 42 cents or 0.63% at $66.15 a barrel by 0332 GMT while U.S. West Texas Intermediate crude was down 36 cents or 0.58% at $61.92 a barrel.