WASHINGTON (dpa-AFX) - Oil extended losses for the third day running on Wednesday as traders continued to book profits after recent sharp gains.
Technical indicators suggest that crude rallied too far too fast after OPEC+ decision to largely maintain production cuts in April and attacks by Yemeni Houthis on Saudi's oil heartland.
Positive noises from the U.S. administration towards potential resumption of supplies from Iran also cooled prices.
Russia has called on the United States and Iran to take mutual steps and coordinate efforts to rejoin the nuclear deal.
Brent crude for May settlement dropped 40 cents, or 0.6 percent, to $67.12 a barrel, while U.S. West Texas Intermediate crude futures for April delivery were down 20 cents, or 0.3 percent, at $63.81.
The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 12.8 million barrels for the week ended March 5.
Investors await official figures from the Energy Information Administration (EIA) later in the day for pointers on where prices will head next.
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