U.S. crude oil futures inched down on Monday following gains in the previous session, dragged lower by signs of increased supply from Libya and on easing tensions over Ukraine.
FUNDAMENTALS
* U.S. crude futures for September delivery <CLc1> had fallen 45 cents to $96.90 a barrel by 0007 GMT, after jumping $1.77 on Friday.
* Brent crude futures for October delivery <LCOc1> dropped 62 cents to $102.91 a barrel.
* Libya's oil production has risen to 535,000 barrels a day
(bpd) due to a higher output at the southwestern El Sharara, El Feel fields, a spokesman for National Oil Corp (NOC) said on Sunday.
* A delivery of crude oil from Iraqi Kurdistan has arrived at Croatia's Adriatic sea port of Omisalj, a Croatian government source said on Sunday, confirming a report by daily newspaper Jutarnji List late on Saturday.
* German Foreign Minister Frank-Walter Steinmeier said on Sunday after a meeting with his counterparts from Ukraine, Russia and France that they would report back to leaders in their capitals and possibly agree on Monday or Tuesday how to continue talks.
* U.N. nuclear agency chief Yukiya Amano said that he was very glad to hear a firm commitment from Iran to resolve outstanding issues through cooperation during a visit to Tehran on Sunday that he described as "useful".
MARKETS NEWS
* Sterling rose on Monday after the Bank of England indicated that UK interest rates may have to rise even before wage growth recovers, backtracking from earlier comments that prompted markets to push out the risk of a rate hike.
* U.S. equities ended mixed on Friday, paring an earlier selloff sparked by reports of Ukraine shelling a Russian armoured column
Reuters
