Oil prices extend losses amid supply glut

New York, Jan 13 (IANS) Oil prices continued to fall on Tuesday as market expected the supply to surpass the demand.

The West Texas Intermediate for February delivery moved down 97 cents to settle at $30.44 a barrel on the New York Mercantile Exchange, while Brent crude for February delivery decreased 69 cents to close at $30.86 a barrel on the London ICE Futures Exchange.

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