Oil markets fell today ahead of the impending central bank meetings in the United States and Europe, which investors fear may not help revive the global economy.

Brent crude dropped 38 cents to $105.82 a barrel while US crude fell 20 cents to $89.58, reports Reuters.

The uncertainty regarding the health of the global economy offset the news that oil supply from the Organization of the Petroleum Exporting Countries fell by 450,000 barrels a day in July, to 31.18 million bpd.