Oil prices extended losses on Wednesday, after slumping about 5 percent to a five-week low in the previous session, as investors braced for more rate hikes this week that could dent energy demand. Brent futures fell 13 cents, or 0.2 percent, to $75.19 a barrel by 0015 GMT, while West Texas Intermediate crude (WTI) also fell 13 cents, or 0.2 percent, to $71.53. Both benchmarks closed at their lowest since March 24 in the previous session, when they also recorded their biggest one-day percentage declines since early January.

https://business.inquirer.net/398982/oil-extends-losses-as-investors-brace-for-more-rate-hikes

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