Sebastian Vettel has set the fastest lap time in the first practice session for this weekend's Hungarian Grand Prix.

The reigning world champion completed a lap of 1:22.723, putting himself just ahead of his Red Bull teammate Mark Webber.

Lotus's Kimi Raikkonen was third, but was hampered with an air box fire midway through the session and had to return to his garage early with a slow puncture in his right rear tyre.

Mercedes spent the most time on track, with both Lewis Hamilton and Nico Rosberg completing 28 laps, finishing 13th and eighth respectively.

Meanwhile, McLaren had a strong session, with Jenson Button putting in the sixth fastest time, just sixth-tenths behind Vettel, while Sergio Perez sealed ninth.

The second practice will take place at the Hungaroring this afternoon.

First practice full standings:

1. Sebastian Vettel (Red Bull)
2. Mark Webber (Red Bull)
3. Kimi Raikkonen (Lotus)
4. Fernando Alonso (Ferrari)
5. Romain Grosjean (Lotus)
6. Jenson Button (McLaren)
7. Adrian Sutil (Force India)
8. Nico Rosberg (Mercedes)
9. Sergio Perez (McLaren)
10. Pastor Maldonado (Williams)
11. Esteban Gutierrez (Sauber)
12. Valtteri Bottas (Williams)
13. Lewis Hamilton (Mercedes)
14. Jean-Eric Vergne (Toro Rosso)
15. Felipe Massa (Ferrari)
16. Nico Hulkenberg (Sauber)
17. Daniel Ricciardo (Toro Rosso)
18. Paul di Resta (Force India)
19. Charles Pic (Caterham)
20. Giedo van der Garde (Caterham)
21. Jules Bianchi (Marussia)
22. Rodolfo Gonzalez (Marussia)