UPDATE 5-Oil falls more than $2 a barrel on profit taking

                                
 * Oil falls more than $2 a barrel
                                
 * Conflict between Georgia and Russia lends support
                                
 * Faltering global growth may limit price rises
 (Recasts, updates prices)
                                
 By Golnar Motevalli
                                
 LONDON, Aug 14 (Reuters) - Oil fell more than $2 a barrel
on Thursday, erasing most of Wednesday's gains, as faltering
prospects for global economic growth prompted traders to take
profits.
                                
 Concerns about the security of energy transit routes
through the Caucasus have provided some support, although
analysts said the mood is still predominantly bearish.
                                
 U.S. data on Wednesday showed a fall in crude and gasoline
inventories after a number of precautionary refinery closures
in response to Tropical Storm Edouard.
                                
 U.S. crude <CLc1> was down $2.10 at $113.90 by 1625 GMT,
off a high of $117.42 hit earlier in the session. London Brent
<LCOc1> fell $1.01 to $112.46.
                                
 "We've corrected quite a bit on oil, despite a lot of
bullish news, the sentiment has been bearish," Harry
Tchiliguirian, senior oil analyst at BNP Paribas, said.
                                
 Oil prices rose on Wednesday after U.S. government data
showed crude stocks in the world's top energy consumer dropped
by 400,000 barrels last week, while gasoline inventories fell
by 6.4 million barrels.
                                
 The fall in gasoline stocks was much larger than analysts'
expectations of a 2.1-million-barrel decline. Distillate stocks
also unexpectedly fell.
                                
 Disruptions to energy exports from the Caspian region have
helped to underpin prices as Western powers try to shore up
support for a shaky ceasefire between Russian and Georgian
troops around the breakaway region of South Ossetia.
[ID:nLE638801]
                                
 British oil group BP <BP.L> resumed gas exports from
Azerbaijan to Turkey via Georgia, but the oil pipeline to the
Black Sea port of Supsa remained closed. [ID:nLE084813]
                                
 BP had shut the Baku-Supsa oil pipeline and the gas
pipeline to Turkey early on Tuesday because of the military
conflict.
                                
 A third BP pipeline that runs through Georgia, the
Baku-Tblisi-Ceyhan oil pipeline was also shut after it was
damaged by an explosion last week. Repairs have begun on the
pipeline, but it is not known when it will reopen.
                                
 Oil is way off its peak of $147.27 a barrel hit in
mid-July, and analysts have said it is unlikely to move back to
that level soon, in part because of weaker demand.
                                
 High energy prices in many parts of the world have prompted
motorists to drive less.
                                
 The U.S. Transportation Department on Wednesday said
Americans drove 12.2 billion miles, or 4.7 percent, less in
June compared with a year earlier. It was the eighth month in a
row that driving had declined.
  (Additional reporting by Santosh Menon and Seng Li Peng in
Singapore; editing by Jim Marshall)