Oil futures on Thursday extended losses into a second day, underpressure ahead of a highly awaited meeting of central bankers andafter Hurricane Isaac left the Gulf of Mexico's energy industryrelatively unscathed, MarketWatch reported.
Oil for October delivery dropped 87 cents, or 0.9%, to $94.62 abarrel on the New York Mercantile Exchange.
That added to Wednesday's decline, precipitated by a surpriseincrease in U.S. oil inventories last week and as Isaac, downgradedto a tropical storm after it made landfall in Louisiana, appearedto spare oil-refining hubs in the Gulf from damage. Oil has endedlower for five out of the past six sessions.
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