Oil Prices Extend Losses in Late Trading

Losses in benchmark Brent and U.S. crude oil briefly accelerated in Thursday's late trade as the dollar pared its earlier weakness, weighing on commodities priced in the currency.

 

Brent's front-month was down 70 cents, or 1.2 percent, at $56.84 at 2:10 p.m. EDT (1410 GMT), after rising more than $1 earlier. Front-month U.S. crude was down $1.15 cents, or 2.4 percent, to $47.02 a barrel.

 

The dollar fell after Germany's Finance Minister said attempts to generate more growth via a central bank liquidity would have limited success.