Oil prices eased in Asian trade on Thursday, but losses were curbed by upbeat sentiment over the latest US supply report and lingering doubts about the full resumption of Libyan exports, according to analysts.
New York's main contract West Texas Intermediate (WTI) for May delivery dropped 25 cents to $103.35 a barrel in mid-morning trade and Brent North Sea crude for May slid 26c to $107.72.
Investors remain cautious over a weekend deal between rebels in eastern Libya and the central government to resolve a nine-month oil blockade. Tripoli says the blockade since July has cost Libya more than $14bn in lost revenues, slashing exports from 1.5 million to 250 000 bpd.
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