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Brent Oil Nears $110 as Supply Disruption Fears Ease

Brent crude edged towards $110 a barrel on Tuesday, trading close to its lowest in nearly a month, as fears of supply disruption in Iraq eased and prospects for a rise in Libyan exports improved.

The benchmark is headed for a seventh straight session of losses, the longest-losing streak since October 2012. Brent is down nearly 5 percent since the Iraq crisis drove prices to a nine-month high of $115.71 in June.

August Brent crude was at $110.03 a barrel by 0324 GMT, down 21 cents. U.S. crude futures for August edged down 15 cents to $103.38, after settling down for a seventh session on Monday, the longest decline since December 2009.

CNBC [1]

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