Brent crude fell by 27 cents to $92.75 a barrel due to concerns that European governments would fail resolve the 30-month debt crisis.

Germany opposed the idea of sharing Europe’s debt despite support from France, Italy and Spain.

Losses were limited, however, by tighter North Sea oil supply because of a workers’ strike.

US crude fell by three cents to stand at $79.33 as data from the American Petroleum Institute showed an unexpected rise of 507,000 barrels last week, reported Reuters.