Oil prices slide in early trading, Brent at $104.59

As of 00:49 GMT, Brent crude futures had fallen $1.24, or 1.2 percent, to $104.59 per barrel. U.S. West Texas Intermediate (WTI) crude futures dropped $1.14, or 1.1 percent, to $101.29 per barrel.

Both benchmarks had fallen by around $3 per barrel by the close of trading on Wednesday.

Earlier, Qazinform reported oil prices surged to multi-month highs.