Brent, US crude extend losses to $3
Brent and US crude futures extended losses to $3 on Wednesday as concerns about Europe's ability to address its debt crisis and rising US crude oil inventories weighed on oil prices.
Brent crude rose above $122 on Wednesday, snapping two days of losses, in line with gains across broader financial markets on expectations that cheap loans from the European Central Bank will spur buying of riskier assets.