* Iran oil exports near pre-sanctions level -source
* Falling U.S. stocks, rising dollar weigh on crude
* Gasoline settles up 2 pct on pipeline, refinery issue
* U.S. oil rig count rises for 11th week out of 12 (Adds expectations for continued rise in gasoline pump pricesuntil Colonial Pipeline is fixed, paragraph 14)
By Barani Krishnan
NEW YORK, Sept 16 (Reuters) - Crude oil prices fell 2percent on Friday to multi-week lows as swelling Iranian exportsreinforced fears of a global glut, while gasoline rallied onrefinery and pipeline outages.
Falling U.S. equity markets and a rising dollar also weighed on crude futures and other commoditiesdenominated in the greenback.
Gasoline rose 2 percent after outages on ColonialPipeline's main gasoline line and in a key unit of BP Plc's refinery in Whiting, Indiana. The profit for turningcrude into gasoline <1RBc1-Clc1> hit three-month highs and pumpprices for the fuel rose as well.
Brent crude futures settled down 82 cents, or 1.8percent, at $45.77 a barrel, hitting a two-week bottom of$45.48.
U.S. West Texas Intermediate crude futures fell 88cents, or 2 percent, to settle at $43.03 a barrel. WTI hit afive-week low of $42.74.
For the week, Brent fell 5 percent, while WTI lost 6percent.
"Crude futures are taking on an increasingly bearishappearance," said Jim Ritterbusch of Chicago-based oil marketsconsultancy Ritterbusch & Associates.
For WTI, "this can potentially expedite our expected tripsouth to the $39 area," he said.
Oil slumped after a source familiar with Iran's tankerloading schedules said the third-biggest OPEC producer raisedcrude exports to more than 2 million barrels per day (bpd) inAugust, nearing pre-sanctions levels.
Iran and OPEC kingpin Saudi Arabia have been raising exportsdespite the approaching Sept. 26-28 meeting in Algeria, wherethe Organization of Petroleum Exporting Countries and othermajor producers are set to discuss an oil production freeze.Most market participants are skeptical a deal will be reached.
There are also signs of returning output from Nigeria andLibya, where crude exports have been hampered by conflict andunrest.
U.S. oil output, meanwhile, has grown more than that of anyproducer since 2010, data shows. A weekly reading on the U.S.oil rig count showed a rise for the 11th out of the last 12weeks.
The rally in gasoline picked up on news BP Plc plansto shut for up to 10 days the large crude distillation unit atits 413,500-bpd Whiting, Indiana refinery. That would add toclosure of the refinery's gasoline-producing fluidic catalyticcracking unit.
Analysts expect gasoline pump prices to continue rising inthe coming days after Colonial Pipeline Co said itwas aiming for a restart by Thursday of its key line that bringsgasoline to the East Coast.
(Additional reporting by Karolin Schaps in LONDON and Mark Tayin SINGAPORE; Editing by Paul Simao and Will Dunham)
BP (BP.)