Crude prices on Thursday retreated from the high boosted by joint intervention of six major western central banks, as European woes lingered and concerns over Iran nuclear program eased.

Although Spain's bond auction met solid demand, bringing some optimism to markets, the sharply contracting manufacturing activities for November in euro zone still heavily weighed on the crude markets. Recession in the bloc loomed.

Investment bank Goldman Sachs wrote in a note, "We continue to view the crude oil market as navigating between the currently tight physical oil markets and the threat that the European debt crisis could trigger a global economic recession in the near future, which would lead to a sharp drop in oil demand," remaining less confident in future crude prices.

European foreign ministers did not come up with immediate action on banning oil imports from Iran after the meeting on Thursday. Concerns over an oil supply disruption caused by absence of Iranian crude eased.

U.S. job data added to pressure. U.S. Labor Department reported that U.S. initial jobless claims unexpectedly rose 6,000 last week, signaling a struggling job market.

Light, sweet crude for January delivery edged down 16 cents, or 0.16 percent to settle at 100.20 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for January delivery slipped 1.53 dollars, or 1.38 percent to close at 108.99 dollars a barrel.

VietNamNet/Xinhuanet