World oil prices extended losses today amid market volatility after a US brokerage firm filed for bankruptcy and Greece called for a referendum on its latest bail-out deal.
New York's main contract, light sweet crude for delivery in December, was down 44 cents to $92.75 in Asian trade, while Brent North Sea crude for December settlement dropped 26 cents to $109.30.
US brokerage MF Global's move to file for bankruptcy protection and Greece's call for a referendum on the EU deal have stoked new fears over the euro zone debt crisis, weighing down market sentiment.
Confidence in MF Global was shattered by a string of losses from European public debt holdings. Its bankruptcy filing makes it the first major US casualty of the euro zone debt crisis.
A stronger greenback was also dampening demand for dollar-priced crude which becomes more expensive for holders of other currencies, analysts said.
Leaders of the Group of 20 developed and developing nations are to meet this week in French city of Cannes, with the euro zone crisis expected to be a key agenda item.
The oil market had rallied last week after a breakthrough euro zone sovereign debt crisis deal helped ease stubborn concerns that problems in Europe could spark a new global recession. But there are signs the euphoria could be waning as governments grapple with the details of implementing the plan.
