• Oil: prices declined amid fears of Greece's exit from the euro zone

Market news

6 July 2015

Oil: prices declined amid fears of Greece's exit from the euro zone

West Texas Intermediate futures for August delivery dropped to $54.74 (-3.85%); Brent crude declined to $59.53 (-1.31%) a barrel amid the results of Greek referendum and more attempts to support China stock markets. Official figures have shown that 61.31% of Greeks rejected Europe's latest bailout offer and fueled fears of Greece's exit from the single currency area. Prospects of additional supply from Iran have also weighed on oil prices (various sources suggest that an agreement between Iran and global powers might be reached within days, allowing OPEC's fifth-largest producer to nearly double its exports).

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.