West TX Oil Eases to $106 as Supply Risk Fears Ease

U.S. crude futures eased in early Asian trade on Monday as supply disruption fears receded with Iraqi exports remaining unaffected despite a Sunni militant takeover of large stretches of the country.

U.S. crude dropped 26 cents to $105.48 a barrel by 0014 GMT, after ending 10 cents lower on Friday and finishing the week 1.4 percent down. Brent futures declined 17 cents to $113.13 after settling 9 cents up.

Iraq’s army sent tanks and armored vehicles to try to dislodge insurgents from the northern city of Tikrit on Sunday, the second day of a pushback against a Sunni militant takeover of large stretches of Iraq.

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