Iranian oil technicians working on installations.[/caption]LONDON, Sept 24 (Reuters) -Brent crudeoil eased to under $108 a barrel on Tuesday, losing more ground after almost a month of falls as geopolitical tension eased and further evidence emerged of rising oil supplies fromLibyaandIraq.
Brent peaked above $117 a barrel in August on fears the war inSyriawould spiral out of control and hit Middle East oil output, but it has slowly retreated since then as the chances of U.S. military intervention and a wider conflict have receded.
Signs of a possible reconciliation between Iran and the West have also calmed geopolitical worries and raised the chance of more Iranian oil sales after years of sanctions that have cut oil exports by more than 1 million barrels per day (bpd).
Brent crude for November fell 25 cents to $107.91 per barrel by 1300 GMT, after settling at its lowest close in four sessions on Monday. November U.S. crude was off 79 cents at $102.81 a barrel, down for a fourth day.
By Reuters
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