West TX Oil Above $106.50 Over Potential Supply Disruption

U.S. crude oil futures rebounded above $106 a barrel in early Asian trade on Thursday after dipping in the previous session, supported by concerns about a potential supply disruption due to turmoil in Iraq.

Crude eased on Wednesday to hit its lowest level since June 11 after U.S. government numbers showed domestic crude inventories fell much less than an industry group had reported.

U.S. crude climbed 22 cents to $106.19 a barrel of as 0030 GMT. It fell 39 cents to settle at $105.97 a barrel in the previous session.  Brent lost 1 cent at $114.25 a barrel, after it ended 81 cents higher at $114.26 a barrel, the highest level since Sept. 6.

CNBC

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