New york: Oil prices continued to decline in early trading on Thursday, extending losses from the previous session. By 00:49 GMT, Brent crude futures fell US$1.24, or 1.2 percent, to $104.59 per barrel, while US West Texas Intermediate (WTI) crude futures declined $1.14, or 1.1 percent, to $101.29 per barrel.

According to Emirates News Agency, both benchmarks had fallen by around $3 per barrel at the close of trading on Wednesday. The current downward trend in oil prices reflects ongoing market fluctuations influenced by various global factors impacting supply and demand.