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Oil prices extend losses on fresh supply glut fears

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London - Oil prices slid to fresh three-month lows on Wednesday as worries about a global oversupply resurface ahead of the release of US stockpiles data later in the day.

With the US summer driving season - when demand peaks - drawing to a close investors are growing increasingly concerned that stocks in the world's top crude consumer remain at elevated levels.

The Energy Information Administration is due to release a report Wednesday, with a survey of analysts warning gasoline inventories rose in the previous week, while oil supplies dipped for a tenth week.

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