Oil Prices Fall As Greece Voters Say “No” In Referendum

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, July 6, 2015, 14:03 [IST]

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.

There were worries that Greece could exit the Euro, which saw further selling in the markets.

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.

GoodReturns.in