Shafaq News/ Basra's heavy crude exported to Asia on Thursday dropped by 3.55%, equivalent to $3.77, settling at $102.50 a barrel.

The Saudi Arab light crude rested at $113.36 a barrel, while UAE's Murban Mixture and the Algerian Saharan blend registered $107.54 and $108.30 a barrel, respectively. A barrel of Bonny light (Nigeria) reported $106.91, while Iran's heavy blend and Angola's Girassol registered $106.09 and $105.74, respectively.

Oil prices firmed in choppy trade on Thursday as concerns about supply due to a potential European Union (EU) ban on Russian oil came to the fore, days after diminished supplies from Libya rocked the market.

Brent crude futures rose 97 cents, or 0.91%, to $107.77 a barrel at 0437 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 0.84%, to 103.05 a barrel, adding to a 19-cent gain in the previous session.