Oil prices retreated in Asian trade today as dealers took profits from overnight gains driven by rumours of a supply disruption in Saudi Arabia. Oil prices had surged overnight on an Iranian media report about a pipeline fire in Saudi Arabia, but Saudi officials later issued a statement denying the report.New York's main contract, light sweet crude for delivery in April, shed one cent to 108.83 dollars per barrel and Brent North Sea crude for April delivery was down 22 cents to 125.98 dollars per barrel in morning trade.