Oil prices extend losses on global markets

Oil prices continued to decline on Monday as concerns over potential supply disruptions from the Middle East eased.

Brent crude futures for August fell 0.6% to around $76.8 a barrel, while U.S. West Texas Intermediate crude declined 0.7% to about $73.6 a barrel.

Investors remained focused on developments in the Middle East and potential risks to oil shipments through the Strait of Hormuz.

N.Tebrizli