Oil prices slipped by more than $1 today as a larger-than-expected rise in US crude stocks and fears of Greece’s exit from the eurozone offset hopes for demand growth.

Brent crude fell $1.39 to as low as $110.85 a barrel, while US crude dropped fell $1.68 a barrel to $92.30, reported Reuters.

US crude stocks increased nearly four times to 6.57 million barrels during the week, according to AMERICAN PETROLEUM INSTITUTE.