LONDON, Jan 15, 2026 (BSS/AFP) - Oil prices extended losses on Thursday after remarks by US President Donald Trump appeared to dial down threats of imminent military action on crude producer Iran.

After climbing sharply in recent days, the main US oil contract, WTI, slumped 4.6 percent to $59.18 per barrel, after briefly falling more than five percent.

International benchmark Brent North Sea crude fell 4.4 percent to $63.61.