Brent crude oil futures for delivery in September fell 0.78% this morning, while light crude was down 0.91% as eurozone uncertainty continued to move the markets.
Oil prices were also lower as investors took profits following yesterday's risk rally. This was due to the weak US housing data yesterday which reinforced stimulus expectations from the Fed. Oil also fell after EIA data showed oil inventories had unexpectedly risen by 2.72 million barrels.
However, the forecast was for a fall of 650,000 barrels. Iranian tensions were also in the forefront, with the US Congress likely to pass further sanctions to restrict Iranian oil revenue.