Oil prices extend losses

London - Oil prices extended losses in Wednesday to six-year lows on expectations that US crude stockpiles will rise further, in a market already awash with supplies, analysts said.

The New York price slid to $42.05 a barrel - the lowest level since March 2009. US benchmark West Texas Intermediate for delivery in April later stood at $42.24, down $1.22 a barrel compared with Tuesday's close.

Brent crude for May delivery was down 45 cents to $53.06 a barrel in London midday deals.