NYMEX-U.S. crude poised for second week of declines on Libya, Iran
SINGAPORE, Sept 20 (Reuters) - U.S. crude futures edged down on Friday and are set for a second straight week of decline as supply risks abated after Libya increased production and concerns over Syria and Iran eased.
* U.S. crude for October delivery was off 22 cents at $106.17 a barrel by 0039 GMT. The contract, which expires later in the day, is down almost 2 percent for the week.
* Brent crude for delivery in November slipped 12 cents to $108.64 a barrel. The crude benchmark has lost 3.7 percent for the week and is on track for its steepest weekly decline since mid-June.
* U.S. and Brent crude prices only had one day of daily gains this week, which was Wednesday, after the Federal Reserve decided to leave its massive economic stimulus intact.
Both fell early in the week after tensions arising from Syria's chemical weapons eased. The decline continued on Thursday on increased Libyan output and comments from Iranian President Hassan Rouhani who is seeking to improve his country's relations with the United States.
* Rouhani said Iran was not looking for war and would never develop a nuclear weapon. The White House said President Barack Obama may meet with Rouhani in New York next week where both are attending the United Nations General Assembly.
* Brazil's planned auction of its biggest-ever oil discovery attracted only a quarter of the interest expected by the government after many of the large, wealthy oil companies with experience in the region declined to sign up for the sale.
* The dollar drifted off a seven-month low against a basket of major currencies as investors unwound some of the bearish trades put on in reaction to the Federal Reserve's shock decision to maintain its massive bond-buying stimulus.
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(Reporting by Manolo Serapio Jr.; Editing by Edwina Gibbs)