* Investors eye more stimulus from US, EU, China
* Sudan, S. Sudan reach oil transit fee deal, border talk
* Coming up: US employment trends for July; 1400 GMT
SINGAPORE, Aug 6 (Reuters) - Brent crude dropped toward $108
a barrel on Monday as a recent surge in prices gave some
investors a chance to sell their holdings for profit, while more
data was eyed for clues on the health of the global economy and
the outlook for oil demand.
Oil prices jumped on Friday on better U.S. jobs data and
talks of stimulus measures by the euro zone to support growth.
Supply disruptions in the North Sea and the Middle East also
aided prices although Sudanese crude exports could resume soon
as Sudan and South Sudan reached a deal on oil transit fees.
Brent crude fell 47 cents to $108.47 a barrel by
0250 GMT after jumping nearly 3 percent on Friday. U.S. crude
edged down 23 cents to $91.17 after surging close to 5
percent in the previous session.
"Prices did rise quite a lot so it's probably profit-taking
going on," said Michael Creed, an economist at the National
U.S. employers hired the most workers in five months in
July, but an increase in the jobless rate to 8.3 percent kept
prospects of further monetary stimulus from the Federal Reserve
on the table.
Expectations for more stimulus measures from the euro zone
to support the debt-laden region and the latest pledge by China,
the world's top energy consumer, to step up monetary policy
fine-tuning were also helping to keep a floor under oil
"There is a greater degree of optimism in commodities
surrounding the euro zone than 2-3 weeks ago," Creed said.
"We are still awaiting details regarding what Draghi meant
by he'll do anything to maintain the euro."
Data due from China this week are likely to show the world's
second-largest economy is, at best, stabilising rather than
SUDANESE OIL DEAL
On the supply side, a fall in North Sea output due to
maintenance and lower exports from Iran on tight Western
sanctions have shored up oil prices.
But Sudanese oil exports may resume soon as Sudan reached a
deal with South Sudan on oil transit fees, a first step towards
ending a dispute which had brought the hostile neighbours close
to war. But Sudan also said it wanted a border security
agreement before oil flows resumed.
Disputes between the countries have reduced Sudanese crude
exports by about 350,000 barrels per day from early this year.
Investors are also watching the approach of Tropical Storm
Ernesto which kept on a westerly course in the Caribbean Sea on
Sunday and was expected to strengthen slowly over the next 48
Forecasters expect Ernesto to move into the southern Gulf of
Mexico by Thursday but it was too early to know whether it could
disrupt oil and gas operations in the gulf.
"Brent is testing a longer term resistance at around the
$109 a barrel," ANZ analysts said in a note.
"A shift in Ernesto's course could prove a catalyst for
Brent to rally towards $111 and for WTI to break up toward $94."
Money managers cut their net long U.S. crude futures and
options positions in the week to July 31, the U.S. Commodity
Futures Trading Commission said.
(Editing by Himani Sarkar)