West Texas Intermediate fell below $101 a barrel and Brent tumbled to a three-month low as supply risks eased in Iraq and Libya while stockpiles gained at Cushing, Oklahoma , the U.S. benchmark’s delivery point. Both oils capped their third weekly drops. Kurdish forces took over the Bai Hassan and Kirkuk oilfields today, Iraq’s Oil Ministry said in a statement. Libya’s supply rose as the Sharara field resumed output and two oil-export terminals reopened. Cushing supplies rose 447,000 barrels last week, U.S. government data show. WTI broke through technical support at the 100-day moving average. “Libyan barrels are coming back and the trouble in Iraq turned out to have minimal impact on oil output,” said Bob Yawger, director of the futures division at Mizuho Securities USA Inc. in New York. “There are also technical factors sending us lower. This has turned into a toxic brew for oil prices.” WTI […]