Oil Slips 0.5%, Extending Losses Near Four-Month Lows

Oil prices edged lower on Wednesday, extending this week's losses and trading near the four-month lows reached in the previous session.

Brent crude futures fell 37 cents, or 0.5%, to $76.71 a barrel. Meanwhile, US West Texas Intermediate (WTI) crude futures dropped 36 cents, or 0.5%, settling at $72.85 a barrel.

Both benchmarks had shed around 1% during Tuesday's trading, marking their lowest levels since early March.