SINGAPORE: Oil extended declines on Wednesday after steep falls in the previous two trading sessions.Brent crude futures dropped 92 cents, or about 1.2 percent, to $78.44 a barrel by 0330 GMT. They have tumbled more than 12 percent for the week thus far.US West Texas Intermediate futures lost $1.07, or 1.4 percent, to stand at $74.70 a barrel and are down more than 11 percent this week.
