2024-02-26T04:54:58+00:00
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/ Oil prices fell in early Asian trading on Monday, extending losses from the previous session after oil ended the week down 2-3 percent amid market concerns that higher-than-expected inflation could delay a U.S. interest rate cut.
Brent crude futures were down 34 cents at $81.28 a barrel by 01:21 GMT.
U.S. West Texas Intermediate crude futures also fell 33 cents to $76.16.
The morning decline built on losses last week, when Brent crude fell about 2 percent and U.S. West Texas Intermediate crude fell more than 3 percent on signs that a U.S. interest rate cut could be delayed for two months due to rising inflation.
While the Houthis in Yemen continue their attacks on ships in the Red Sea, the war between Israel and the Palestinian Islamic Resistance Movement (Hamas) has not significantly restricted oil supplies.