Oil prices declined on Greece concerns

Oil prices declined on Greece concerns

June 30, 2015


Crude oil has continued its decline to trade below three-week lows on Tuesday as investors are monitoring the developments in Greece after the bank shutdown, and increasing fears about the exit of Greece from Euro area. These worries have kept the investors away from riskier assets. On the other hand the main focus turns this week to the negotiations between the United States and Iran. Any agreement will increase the oil exports and put more pressure on crude oil prices as the global commodity markets are already suffering from oversupply.

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