May 8, 2012 10:02 AM

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Oil extends losses in Asian trade

Oil prices extended losses in Asian trade on Monday, as French and Greek election results stoked investor concerns over the eurozone debt crisis, while disappointing US economic data also weighed. New York's main contract, West Texas Intermediate crude for delivery in June stayed below the psychological 100 dollars threshold, falling 1.92 to 96.57 dollars a barrel in morning trade. Brent North Sea crude for June shed 1.48 to 111.70 dollars per barrel.

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