RTRS:Brent crude drops below $106 on renewed demand fearsQ
* U.S. oil slips as low as $80.38; Brent falls to $105.80
* Raft of weak economic U.S. data renews fear of recession
* Libyan conflict resolution could add pressure (Updates prices)
By Francis Kan
SINGAPORE, Aug 19 (Reuters) - Brent crude fell below $106 on Friday, extending the previous session's plunge, on renewed fears of weak demand following a slew of lacklustre data from the world's top oil consumer, the United States.
Brent LCOc1 slipped to as low as $105.80, after breaking below the 200-day moving average to settle at $106.99 on Thursday. Prices dropped $1.09 to $105.90 at 0619 GMT.
The contract is poised for a 2 percent fall this week and has slipped almost 10 percent this month, the worst since a 15 percent drop in May 2010.
U.S. crude CLc1 fell as low as $80.38 a barrel and traded $1.92 a barrel lower at $80.46. The contract is headed for a fourth straightly weekly loss, down some 5.5 percent.
It has lost 16 percent so far this month, the steepest since December 2008. Continued...
