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Oil extends losses on reserves release, Yemen truce

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Reuters UK

By Florence Tan SINGAPORE (Reuters) – Oil prices extended losses on Monday as investors eyed the release of supplies from strategic reserves from consuming nations, while a truce in Yemen could ease supply disruption concerns in the Middle East. Brent crude futures fell 79 cents, or 0.8%, to $103.60 a barrel by 0037 GMT while U.S. West Texas Intermediate crude was at $98.45 a barrel, down 82 cents, or 0.8%. Both contracts slipped $1 when markets opened on Monday. The United Nations has brokered a two-month truce between a Saudi-led coalition and the Houthi group aligned with Iran for the first…

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