Oil prices fell further in Asian trade Wednesday with U.S. crude posting fresh six-year lows on mounting worries over rising supplies. On the New York Mercantile Exchange, light, sweet crude futures for delivery in April traded at $42.62 a barrel at 0306 GMT, down $0.84 in the Globex electronic session, extending losses from the previous trading session. Brent crude for May delivery on London’s ICE Futures exchange fell $0.21 to $53.30 a barrel, after falling 0.80% on Tuesday. Oil prices have been falling since mid-2014 but the decline had stalled in February, raising expectations that prices had bottomed out. But oil started tumbling again this month on the back of surging U.S. production. U.S. oil prices have now fallen to their lowest since early 2009, erasing February’s gains as surplus crude in storage touches record highs. Late Tuesday, the American Petroleum Institute, an […]