Muscat: Oil prices eased slightly today, following sharp gains in the previous session, as peace talks between the United States and Iran remained stalled. Brent crude futures fell 15 cents to $101.76 per barrel, after closing above $100 for the first time in more than two weeks on Wednesday. US West Texas Intermediate crude futures dropped 14 cents to $92.82 per barrel.

According to Oman News Agency, both benchmark contracts had settled more than three dollars higher on Wednesday, driven by larger-than-expected draws in US gasoline and distillate inventories, as well as a lack of progress in the negotiations. Total US exports of crude oil and petroleum products rose by 137,000 barrels per day to a record 12.88 million barrels per day, as Asian and European nations bought supplies amid war-related disruptions.

The Energy Information Administration reported on Wednesday that US crude oil inventories rose, while gasoline and distillate stockpiles decreased.