London: Oil prices edged lower on Wednesday, extending losses from the previous session, and trading near four-month lows reached a day earlier. Brent crude fell 37 cents, or 0.5%, to $76.71 a barrel, while US West Texas Intermediate (WTI) crude futures dropped 36 cents, or 0.5%, to $72.85 a barrel.

According to Qatar News Agency, both benchmarks had fallen by about 1% on Tuesday, hitting their lowest levels since early March.