US crude prices fell this morning due to concerns over eurozone debt issues and an increase in US crude and petrol inventories.

US crude fell 41¢ to stand at to $96.96 a barrel, while ICE Brent for July was down 42¢ at $110.42.

Reuters reported that increasing US crude stocks may have caused the fall in oil prices.

Concerns that the replacement of International Monetary Fund chief Dominique Strauss-Kahn could be tougher on heavily indebted peripheral eurozone members also contributed to the decline.