Oil prices fell back this evening, tracking sliding stock markets, as investors turned pessimistic over euro zone attempts to produce a definitive solution to the region's debt crisis.
US crude dropped 34 cents to $86.55 a barrel, while Brent crude shed $1.17 to $111.06, having earlier climbed as high as $113.86 on initial optimism after a weekend gathering of G20 finance ministers.
Germany, however, today warned against undue enthusiasm that a quick solution to the euro zone debt crisis would emerge from an EU summit next weekend on October 23.
Crude futures had also risen strongly on Friday as confidence grew that the G20 would put muscle into the euro zone rescue and US data showed signs of firming growth.
