Oil futures decline amid soaring dollar, Greek crisis

Source: Marketwatch
Oil futures for August delivery traded lower, on concerns surrounding Greece's default and therefore strengthening Dollar. In New York, August crude futures lost $1.24 or 2.1% to $58.39 a barrel, however, the London-traded Brent crude oil declined $1.35 or 2.15% to $61.9 a barrel by 10:40 AM GMT. The rising Dollar can make dollar-denominated commodities more costly to countries with other national currencies. 

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