Oil prices fell today on concerns about the economic health of European countries as investors await an outcome of the European Central Bank’s monetary policy meeting and US non-farm payrolls data to be released tomorrow.

Brent crude was down 27 cents to $99.49 a barrel, while US crude futures slipped 67 cents at $86.99.

The Bank of England is expected to announce a third round of stimulus on Thursday after a raft of weak data and the ECB is due to cut interest rates to a record low, which could boost demand for oil, reports Reuters.

Meanwhile, tensions between Tehran and the west remained high over expectations of supply disruptions, while the oil workers’ strike in Norway is still continuing.