Oil prices fall as Iraq sabotage confirmed

Crude oil prices have fallen after damage to a key pipeline in Iraq was confirmed as sabotage.

In London the price of a barrel of Brent North Sea crude oil fell to $28.66, down 15 cents.

Meanwhile in New York it fell 16 cents to $30.89 a barrel.

Earlier US forces had warned that repair work to the pipeline in Northern Iraq could take a few weeks.