Due to expectations of a resolution of the political conflict that halted Libyan exports and concerns about the slowdown in global demand growth, oil prices fell on Wednesday, extending the drop of more than 4% the previous day.

Brent oil futures for the month of November fell 28 cents, or 0.4%, to $73.47 at 0052 GMT, after falling 4.9% in the previous session. West Texas Intermediate U.S. crude oil futures for October were down 31 cents, or 0.4 percent, to $70.03 after falling 4.4 percent on Tuesday. Both contracts fell to their lowest level since December on signs of an agreement to resolve the political conflict between rival factions in Libya that have cut production by around half and curbed exports. Libyan oil exports at major ports were halted on Monday and production was cut across the