* World powers and Iran resume talks on nuclear deal on Wed.
* Oil exports resume from Libya's Mellitah port
* Total's Belgium gasoline unit shut after deadly explosion
By Anna Louie Sussman
NEW YORK, Nov 19 (Reuters) - Brent futures tumbled by morethan $1 a barrel on Tuesday as talks this week between worldpowers and Iran could lead to an easing of sanctions against theoil-rich country.
Also bearish for Brent was the resumption of oil exportsfrom Libya.
The six major world powers and Iran will start talks onWednesday to try to forge an interim deal on Tehran's nuclearprogram. U.S. President Barack Obama on Tuesday said Iran wouldmake progress in its ability to build a nuclear weapon if nodeal on its nuclear program was realised. He urged Congress tohold off on tightening sanctions against Teheran while talkscontinue.
Oil exports from Libya's western Mellitah port have resumedafter protests ended, allowing a large oilfield to ramp upproduction that could reach over 80,000 barrels per day (bpd) byWednesday.
"The bearish news out of Libya is really weighing on theBrent," said John Kilduff, a partner at Again Capital LLC.
"That resumption [of exports] is helping to pressure itright now, as well as the hopes for the Iran meetings tomorrow."
Sanctions on Iran have kept around 1 million barrels per day(bpd) of oil from the global market and any deal could allowsome of that oil to be sold, depressing a market that is alreadywell supplied.
January Brent crude fell $1.38 to $107.09 a barrelby 2 p.m. EST (1900 GMT), down for a third straight session.U.S. crude for December rose 36 cents to $93.39 afterearlier falling to a fresh four-month low of $92.43.
U.S. oil rose earlier on the back of higher oil productprices after news of a fire at Total's 360,000 barrelper day (bpd) Antwerp refinery in Belgium. The fire at Europe'ssecond-largest refinery killed at least one person and haltedgasoline production.
Product prices reversed course to post losses later in thesession as the market absorbed the news of the explosion andlooked ahead to increased runs as U.S. Gulf Coast refineriesemerge from maintenance season.
Sinking Brent prices narrowed its premium over U.S. oil by$2 from an earlier price of $15.01.
Traders also awaited oil inventory data. U.S. crudeinventories were forecast to have increased by 900,000 barrelslast week, while the gasoline supply fell by 300,000 barrels,according to a Reuters poll.
Industry group the American Petroleum Institute will releaseits weekly data at 4:30 p.m. EST (2130 GMT), while the U.S.Energy Information Administration will report its data onWednesday at 10:30 a.m. EST (1530 GMT).
- Commodity Markets
- Brent crude