Oil down again, heads for weekly loss as glut fears persist

By Barani Krishnan NEW YORK (Reuters) - Oil prices were on track to a weekly loss, with Brent hitting two-month lows on Friday, weighed by potentially higher Iraqi crude exports and bearish U.S. inventory data from earlier in the week. Crude futures fell nearly 2 percent for a second day in a row as Iraq's oil exports looked to rise in July, according to loading data and an industry source. U.S. crude inventories are at a historically high 519.5 million barrels for this time of year, despite a n