Oil prices fell on Thursday, extending losses from the previous session, as fears of supply disruption eased on news that the Group of Seven (G7) nations were considering a high price cap on Russian oil. A greater-than-expected build-up in U.S. gasoline inventories added to downward pressure. Brent crude LCOc1 futures had slid 43 cents, or 0.5%, to $84.98 a barrel by 0102 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 futures dropped 35 cents, or 0.5%, to $77.59 a barrel. Both benchmark contracts plunged more than 3% on Wednesday on news that the planned price cap could be above the current market level. ... (full story)