World oil prices fell from two-and-a-half year highs in Asia this morning as traders took profits from from the recent increase.
Investors were also awaiting tomorrow's expected interest rate hike from the European Central Bank (ECB), a move expected to boost the euro and make dollar-priced oil cheaper.
US crude fell 45 cents to $107.89 a barrel, while Brent crude retreated 55 cents to $121.67. Brent had touched $122.89 - its highest level since August 2008 - yesterday before closing at $122.22.
Other factors affecting oil trading included concerns over unrest in the Middle East and North Africa which could disrupt oil supplies coming from the region.
