Crude oil prices rose in early Monday trading amid tensions in Ukraine, but fell again after Libyan protesters ended their occupation of an oil port.
The price of Brent crude futures briefly rose above $108 a barrel, but later fell back to $107.30.
Libya’s state oil firm said the port of Zawiya and its refinery had reopened and were operating normally.
But pro-Russian militants are still occupying buildings in eastern Ukraine, ignoring a deadline to leave by Kiev.
EU foreign ministers are meeting to discuss new sanctions against Russia.
Brent crude oil was trading at $107.74 a barrel at 12:30 BST, up 41 cents or 0.4%, while West Texas Intermediate crude was trading little moved at $103.62.