( Reuter )- Oil fell more than $1, extending the previous session's decline, after the restart of a crude pipeline system in Iraq allayed fears of an extended exports disruption from the country's oil-rich south.
U.S. light crude for May delivery fell A$1.04 cents to $104.58 a barrel by 0053 GMT.
The decline brings total losses since Friday to nearly $3, erasing gains made Thursday after the attack on the pipeline feeding the Basra export terminal interrupted flows from southern Iraq for the first time since 2004.