Oil prices fell on Thursday on speculation that Saudi Arabia and other OPEC members may boost crude output to compensate for a drop in Russian production.
Brent crude was down $2.82, or 2.4%, at $113.47 a barrel at 1035 GMT, having risen 0.6% the previous day.
US West Texas Intermediate (WTI) crude dropped $2.81, or 2.4%, to $112.45 a barrel, after a 0.5% rise on Wednesday.
The benchmarks have marched higher for several weeks as Russian exports have been squeezed by US and EU sanctions against Moscow over its invasion of Ukraine, action Moscow calls a “special operation”.
