Oil prices fell today amid the news that the US central bank appeared reluctant to launch a fresh round of monetary stimulus during recent talks.

Brent crude slipped 21 cents to $124.65 a barrel, while US crude futures lost 47 cents to $103.55, reports Reuters.

Prices were also hit by the news that Saudi Arabia may maintain high oil production if consumer countries release strategic oil reserves and delays in North Sea output.

At least seven cargoes of North Sea Forties crude loading in April were delayed following production problems.