Oil prices fell this evening as concerns about the euro zone's economy outweighed worries about Iran's threats to shut the key Strait of Hormuz oil-shipping route and the country's ongoing dispute with the West over its nuclear programme.
Concerns about the effect of a weak euro zone economy on energy demand have increased after recent economic data.
But Iran's threats to block the Strait of Hormuz if sanctions reduce Tehran's oil exports helped support crude prices after Iran confirmed it had started uranium enrichment at its Fordow nuclear plant.
Brent crude fell $1.16 to $111.90 a barrel. US crude fell $1.30 to $100.26.
Nigeria, OPEC member and Africa's top oil producer, continued to be watched as thousands of people took to the streets to protest at the end of fuel subsidies.
Nigeria averages two million barrels per day of crude oil output and production remained normal despite the strike, sources at two international oil companies and the state firm told Reuters.
