Oil prices were lower again today extending yesterday’s losses as worries about fuel demand are outweighing OPEC+s decision to main oil output cuts. Brent and WTI have declined about $10/bbl in less than 10 days. “This is typical speculative trading activity – trying to make the best out of a bad situation after the bloodbath on Wednesday, and they (market participants) are trying to pick the bottom,” said Bob Yawger, director of energy futures at Mizuho. Long positions established in anticipation of $100 a barrel are also being liquidated. U.S. heating oil futures fell more than 5% on expectations that a Russian fuel export ban introduced last month would be lifted soon and supply disruptions would be less severe than markets had anticipated. WTI traded down $1.91 or -2.3% to close at $82.31. Brent traded down $1.74 or -2.03% to close at $84.07.