UPDATE 8-Oil down 1 pct, pressured by glut, dollar, Nigeria outlook

lunes 29 de agosto de 2016 16:39 GYT

* U.S. crude stocks seen up 2nd week; Iraq eyes more exports

* Dollar jumps after Fed raises prospect of U.S. rate hike

* Rebels pledge to end hostilities against Nigerian oil

* Shell and Conoco see oversupply extending into 2017

* U.S. Gulf of Mexico oil output down 11.5 on storm precaution (New throughout, adds forecast for second weekly build in U.S. crude output, cuts in U.S. Gulf oil output and trader comment)

By Barani Krishnan

NEW YORK, Aug 29 (Reuters) - Oil prices settled down more than 1 percent on Monday, snapping two consecutive days of gains, on renewed concerns about an oil glut, a stronger dollar and expectations that Nigerian rebels will stop hampering that country's crude output.

U.S. crude stockpiles likely rose for a second straight week last week, building by 1.3 million barrels, a Reuters poll showed.

That came on top of Iraq's pledge at the weekend to ship more crude after a ramp up of exports from its southern ports in August.   Continuación...