US Oil Dives Below $100 On Kansas Refinery Outage, Equity Drop
Geopolitics
Oil prices have steadily eased after hitting multi-month highs in June on world political tensions.
In Libya, rival militia brigades resumed their battle for control of Tripoli's main airport. Crude oil output has remained around 500,000 bpd.
Iranian oil exports increased after the country met the terms of a six-month agreement on its nuclear program in mid-July, softening Western sanctions.
In Europe, traders are watching how sanctions will affect oil exports from Russia.
The head of Russia's second-largest oil producer Lukoil said Western sanctions would force the company to reduce its investment program.
(Additional reporting by Rowena Caine and Jack Stubbs in London; Editing by Keiron Henderson, David Gregorio and James Dalgleish)
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