Oil prices extended losses Thursday after U.S. supply data a day earlier showed swelling stockpiles and stubbornly high production, further retreating from the $40-a-barrel range and dashing the view of bullish investors banking on the start of a reversal for the world’s crude oversupply. The benchmark U.S. oil contract ended down 0.8% at $39.46 a barrel on the New York Mercantile Exchange—its third losing session in a row, now down nearly 5% from its 2016 peak set earlier in the week. The market fell early in the session and pared losses over the course of the day but never turned positive, coming on top of a 4% decline Wednesday. The global Brent contract fell 0.1% to $40.44 a barrel on the ICE Futures Europe exchange. The crude markets will be closed Friday in observance of the Good Friday holiday. Both contracts posted their first weekly loss after four weeks […]