Oil prices fell this morning as new fears arose over the eurozone debt crisis, which is threatening the stability of the continent.

Brent crude dropped by 16¢ to stand at $107.62 a barrel, and US crude traded 37¢ lower at $96.54 a barrel.

Market anxiety was also fuelled by the possibility of supply disruptions from Iran as France called for sanctions on the country’s oil exports, but any gain in oil prices was curbed by the eurozone’s persistent debt problems, according to Reuters.