Oil prices were mixed in volatile Asian trading this overnight after plunging more than 5% in New York as the weakening global economy and euro zone debt crisis threatened energy demand.
US crude was down $1.10 to $85.53 a barrel, while Brent North Sea crude inched up four cents to $107.29.
Analysts said the fall in crude prices was driven by wider economic concerns, particularly fears about a new recession in the US.
The steep drop in oil prices came as stock markets in the United States and Europe were sent plummeting. This had a knock-on effect for Asian stock markets this morning.
