Crude oil futures fell on Thursday, as traders took profit at the high price level.

Light, sweet crude for September delivery fell 56 cents to 71.59 dollars a barrel on the New York Mercantile Exchange.

Brent crude for September delivery fell 78 cents to 70.21 dollars a barrel on the ICE Futures exchange in London.

In the week ended Aug. 3, the nation's commercial gasoline supplies fell 1.7 million barrels, although analysts had expected a 1-million-barrel increase, the Energy Department reported Wednesday.

However, some investors sold positions to take profits amid concern over U.S. economy and credit market.