Brent crude futures fell by 47¢ to stand at $107.92 a barrel this morning on concerns that Europe’s failure to curtail the region’s debt crisis could affect oil demand.

US crude fell by 79¢ to $85.32 a barrel, reports Reuters.

The French and German governments are discussing plans to reduce the eurozone debt crisis and increase the region’s bailout fund ahead of the EU summit this weekend.

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