Oil prices fell today as investors expressed concerns over an imminent European Union summit being held to find a resolution to the region’s debt crisis.

Brent crude fell 33 cents to $111.13 a barrel, while US crude was down 58 cents at $98.98 a barrel, reports Reuters.

In addition, oil prices were also dragged down by worries about supply from Iran and South Sudan, as well as slow fourth quarter economic growth in the US, which is the world’s largest consumer of the resource.