Oil prices extend losses on oversupply, US demand concerns

Oil prices edged lower on Friday after big falls in the last session over concerns about possible softening of US demand and broad oversupply that offset worry about supply disruption from conflict in the Middle East and war in Ukraine. Brent crude futures fell 30 cents, or 0.45%, to $66.07 a barrel by 0114 GMT, while US West Texas Intermediate crude fell 31 cents, or 0.5%, to $62.06. The benchmarks lost 1.7% and 2%, respectively, in the last trading session. The losses on Thursday came as the International Energy Agency said in its monthly report that world oil supply would rise more rapidly than expected this year due to planned output increases by the Organisation of the Petroleum Exporting Countries...