Oil prices fell today as investor concerns about the escalating tension between Iran and the West increased.

Brent crude slipped by 12¢ a barrel then steadied at $110.70 after Iranian protesters stormed two British diplomatic compounds in Tehran in protest against new sanctions imposed by London, reports Reuters.

A pact by eurozone ministers to ramp up their bailout fund also helped prices to hold on to the previous session’s gains.

Meanwhile, US crude fell by 24¢ to $99.56 after inventories rose to 3.4 million barrels in the week to 25 November.