Brent crude futures were down 13 cents, or about 0.2%, at $72.01 per barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 14 cents, also 0.2% lower, at $68.23 at 0151 GMT. Both benchmarks had climbed over 1%.

Rising geopolitical tensions in the Middle East, especially after the collapse of the Syrian government, have contributed to a risk premium in crude oil prices. Though Syria itself is not a major oil producer, its strategic location and alliances with Russia and Iran make the region highly sensitive to shifts in power. The fall of President Assad’s regime and the handover of power to the rebel-led Salvation Government add to concerns about regional instability.

China's announcement to adopt a more "appropriately loose" monetary policy next year to stimulate its economy has further supported oil prices. The world's largest oil importer is expected to ease its stance for the first time in 14 years to boost growth. Despite a drop in China’s consumer inflation to a five-month low in November, analysts anticipate crude prices will benefit from the fiscal stimulus.

Analysts see the morning’s price weakness as a potential buying opportunity, with expectations that crude oil prices could move towards the upper end of their recent range, around $72.50.

The market is also awaiting China’s trade data for November and a report from the American Petroleum Institute (API) on U.S. crude oil and gasoline stockpiles. Preliminary data from Reuters suggests that U.S. stockpiles may have fallen last week, while distillate inventories likely increased.

In the U.S., the oilfield services sector showed signs of growth, with 1,890 new jobs added in November, indicating more drilling and higher oil production.