Oil Prices Continue to Fall as Demand Weakens and Supply Concerns Ease

Oil prices fell further on Thursday, extending a 6% drop on Wednesday due to weakening demand.

The sharp declines follow data showing lower gasoline demand and cautions that high summer prices slowed travel.

Prices had climbed roughly 30% over the last couple months before this week's drop.

Russia is considering lifting its diesel export ban, potentially boosting supply.

A strengthening dollar coinciding with high oil prices exacerbates energy costs globally.