Oil prices fell this morning over anticipations that the International Energy Agency (IEA) may release crude stocks for the second time.

US crude fell by 22¢ to stand at $97.02 a barrel, while Brent lost 31¢ to $116.95 a barrel as concerns about the European debt crisis continued.

The IEA will consult with its 28 member countries by 23 July on whether to release more oil into the market, reports Reuters.