Oil prices fell this morning ahead of the US jobs data report, which is expected to provide an insight into the pace of economic recovery.

US crude fell by 16¢ to stand at $98.51 a barrel, while ICE Brent crude fell by 72¢ to $117.87 a barrel, but is poised to rise more than 5% this week.

Government data showing a smaller than expected decline in US crude stocks also weighed on prices, according to Reuters.