India, Jan. 30 -- Oil prices traded lower on Thursday, extending losses from the previous session as uncertainty prevailed over the potential effects of U.S. President Donald Trump's proposed tariffs and official data indicated a rise in U.S. inventories.
Easing worries about supply disruptions from Libya, the likelihood of increased U.S. production and a hawkish hold from the Federal Reserve also added to the selling pressure.
Benchmark Brent crude futures dipped half a percent to $75.21 in European trade while WTI crude futures were down half a percent at $72.26.
Uncertainty prevailed as a result of a lack of clarity on Trump's tariff policies, especially on Canada and Mexico, the two largest suppliers of crude oil to United States.
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