Oil extended losses in Asian trade today, with prices hittingmulti-month lows as Spain's banking woes intensified worries about theeurozone.New York's main contract, West Texas Intermediate crude for delivery in July was down 24 cents to 87.58 dollar per barrel while Brent North Sea crude for July shed 34 cents to 103.13 dollars in morning trade.Prices had slumped yesterday as the dollar rose to two-year highs against the European single currency, makingdollar-priced oil more expensive and hurting demand.Spain's economic woes were sharply in focus as its 10-year borrowing rates approached the 7.0 percent mark.Economists fear the Spanish government will have to seekan international bailout — following Greece, Ireland and Portugal — despite assurances from Prime Minister MarianoRajoy.The European Commission weighed in yesterday, placing the debt-wracked country at the head of a critical list of 12 economies ordered to carry out sweeping reforms this year totry to stabilise the eurozone debt crisis.