U.S. oil prices extended their recent declines Tuesday, with some investors still worried about the impact of higher supply with two of the world’s largest producers nearing an agreement to boost output. U.S. crude futures fell $1.15, or 1.7%, to $66.73 a barrel on the New York Mercantile Exchange in a fifth straight session of losses—their longest streak since February—as traders returned from the Memorial Day holiday. Brent crude, the global benchmark, erased most of its early gains and closed up 9 cents, or 0.1%, at $75.39 a barrel after falling Monday. Oil fell alongside stocks and other risk assets Tuesday with political worries about Italy and Spain roiling markets . Prices started their recent tumble in earnest on Friday as Saudi Arabia and Russia neared a deal to increase oil production after more than a year of holding back output. The Organization of the Petroleum Exporting Countries—of which […]