Oil prices fell sharply with Brent Crude dropping below the 60 a barrel mark, as Greece continued to worry markets. On Sunday, Greece voters said "No" on a referendum to creditors demands for austerity in exchange for loans.
Brent Crude was last trading at $59.85 a barrel. It may stabilize at these levels unless events in Greece take a turn for the worse. The drop in crude prices is good news for India, which imports as much as 70 per cent of its crude requirements.