emirates7 - Oil prices fell during early Asian trading on Thursday, reversing some of the sharp gains recorded in the previous session.

Brent crude futures declined by 67 cents, or 0.69%, to trade at $97.14 a barrel. Meanwhile, US West Texas Intermediate (WTI) crude futures dropped 62 cents, or 0.65%, to reach $95.40 a barrel.

The early morning decline is reportedly driven by profit-taking from commodity traders following the sharp price surge late Wednesday.