World oil prices sank further this evening as traders took more profits amid concerns that high energy costs could erode demand and hurt the global economy.
Brent North Sea oil fell 66 cents to $123.51 a barrel in London. US crude shed 29 cents to $108.27.
Analysts fear that a recent jump in oil prices will affect economic growth around the world, with a knock-on effect on demand eventually.
Prices also fell on profit-taking after the market hit a series of nine-month highs last week, stoked by intensifying concern over key crude-producing nation Iran and its row with the West over its nuclear programme.
