Oil fell today as part of a wider markets sell-off sparked by a downgrade of Spain's credit rating by ratings agency Fitch.
The move by Fitch, which also downgraded Italy a few minutes earlier, further stirred concerns about the euro zone debt crisis and dragged down US stock markets.
The crisis has weighed on oil and commodity markets due to concerns about the impact on demand in recent months.
Crude prices had earlier traded higher after data showed US nonfarm payrolls rose more than expected, helping to ease some concerns about the economic recovery.
Brent crude for November fell 93 cents to trade at $104.80 a barrel by 5.39pm. US November crude lost 51 cents to $82.08 a barrel.
