Oil prices were mixed in Asia this morning as investors remained cautious despite signs of progress in Italy and Greece to tackle their debt problems.
US crude dropped 32 cents to $97.82 a barrel and Brent North Sea crude advanced 35 cents to $112.24.
Crude prices had been higher yesterday after the leaders of Italy and Greece stepped aside, lifting hopes that key legislation could be passed, while tensions in the Middle East added upward pressure.
But a falling euro and concerns that the countries' new leaders may not be able to implement the necessary changes led to fresh selling.
The euro zone debt crisis, and its potential to stall global economic growth, have cancelled out the upward push on oil prices driven by new fears over Iran's nuclear ambitions.
