The price of oil has fallen below $96 per barrel after the head of the European Central Bank expressed concern over a recent rise in the euro.
The euro was down against the dollar, to $1.3391 from $1.3525 yesterday.
Meanwhile European Central Bank president Mario Draghi pledged to keep a close eye on the economic impact of the rise of the euro, which has gained on the dollar in recent months.
It rose from around $1.23 in mid-August to over $1.35 this week. A strong euro hurts the export prospects of the 17 countries in the common currency zone.
It also tends to result in higher oil prices by making crude priced in dollars cheaper - and a more enticing investment - for traders using currencies other than the greenback.
Benchmark crude for March delivery fell 77 cents to $95.85 a barrel in midday trading on the New York Mercantile Exchange.
A drop in US stock markets also contributed to the selling in the oil market.
In London, Brent crude, used to price international varieties of oil, was up 29 cents to $117.02 a barrel on the ICE Futures exchange.
