Oil prices dropped below $85 a barrel today, supported by a fall in US crude inventories for the week.

US crude for March delivery increased 22¢ to stand at $84.54 a barrel by 05.36 GMT after settling at $84.32 a barrel, while Brent crude for April went up 27¢ to $101.91 a barrel due to tensions in the Middle East, reports Reuters.

US crude stocks fell by 354,000 barrels last week because of a drop in imports, according to the API.