Oil prices headed down in Asian trade on Friday as traders took profits from a heady overnight rally sparked by a slew of positive economic data from the US, Europe and China, analysts said.
New York's main contract, light sweet crude for delivery in December, retreated 23 cents to $97.55 per barrel.
Brent North Sea crude for December delivery shed 61 cents to $113.10.
Crude traders were making a quick buck after prices shot up in late US trade Thursday, said Victor Shum, senior principal of Purvin and Gertz energy consultants in Singapore.
"It's simply profit-taking after the big comeback yesterday in the US," he told AFP.
"It was a confluence of a lot of positive economic news in the US and Europe, and some data from China on growth in its oil imports last month," Shum added.
The US had a rare reprieve from its economic woes on Thursday as government data showed the trade gap of the world's largest oil consumer narrowed in September and unemployment claims fell to a seven-month low last week.
European debt worries were also slightly eased as Greece named a new prime minister and Italy's borrowing rate fell from unsustainable levels reached on Wednesday.
{{/usCountry}}European debt worries were also slightly eased as Greece named a new prime minister and Italy's borrowing rate fell from unsustainable levels reached on Wednesday.
{{/usCountry}}Figures issued Thursday showing stronger than expected oil imports by China, the world's biggest energy consumer, also boosted oil markets overnight.