Oil Higher On Ukraine Tensions, Data, But Posts Second Monthly Fall

West African crude exports to Asia were near record levels in September, a Reuters survey of traders showed, and the North Sea market remained well supplied.

Production from the Organization of the Petroleum Exporting Countries (OPEC) rose despite conflicts in Iraq and Libya.

OPEC, which supplies a third of the world's oil, raised its output in August from July, with higher supply from Libya, Angola and Iran, a Reuters survey found.

Money managers and large hedge fund speculators cut their net long U.S. crude combined futures and options position in New York and London by 6,250 contracts to 195,684 in the week to August 26, data from the U.S. Commodity Futures Trading Commission (CFTC) showed on Friday.

(Additional reporting by Robert Gibbons in New York, Henning Gloystein and David Sheppard in London, Florence Tan in Singapore; Editing by Jane Baird, Keiron Henderson, Dale Hudson, Marguerita Choy and Jonathan Oatis)

Copyright 2014 Thomson Reuters.


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