Oil prices fell, retreating after a two-day rally following an unexpectedly large build in US crude inventories, while supply disruptions in the Middle East lingered, Reuters reports.
Brent crude futures fell 73 cents, or 0.67 per cent, to $108.02 a barrel at 0450 GMT, while US West Texas Intermediate futures were down $1.1, or 1.04pc, at $104.73 a barrel.
Both benchmarks settled more than $3 higher and at their highest levels since May 19 on Tuesday, as the Yanbu loading suspension stoked supply concerns and Saudi Arabia cut oil shipments to Europe.
