Brent crude recovered from sharp losses in early European trade this morning as investors edged back into riskier assets after a heavy sell-off during the previous session.

Brent crude dropped 22¢ to stand at $103.52 and US crude fell by 94¢ to $80.37 a barrel.

Brent crude had slipped to $98.74 earlier, its lowest level since 8 February 2011, reports Reuters.