Oil prices decline on Greece's default as supply rises

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Source: Reuters

Oil prices decreased on Wednesday after OPEC's output rose to 31.6 million barrels a day and Greece defaulted on its 1.54 billion euros' payment to the IMF. New York-traded crude oil declined 1.3% to $58.74 a barrel, while the UK-traded Brent crude oil traded 0.8% lower to $63.64 a barrel by 10:00 AM GMT. In addition, last week US crude oil inventories soared by 1.9 million barrels. 

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Wed, 01 Jul 2015 11:20:08 GMT

Euro falling while awaiting Greek referendum

The common currency retreated on Wednesday as the Mediterranean nation became the first developed economy to evade the IMF loan payment. While the sentiment of the market stayed tense, the trading was limited as investors await for the Greek referendum on Sunday. After a slide of noticeably in Asian trading, Euro retrieved some losses and stood down 0.4%. 

Wed, 01 Jul 2015 10:58:06 GMT

European stock markets rise amid Greek crisis development

On Wednesday, stock markets across Europe rose, as investors took into account Greece's default on its 1.54 billion euros' payment to the IMF. The Stoxx 600 added 1% to 385 points, the UK's FTSE 100 rose 1.1% to 6,595 points, while the DAX 30 was up 1.6% to 11,117 points. Meanwhile, the France's CAC 40 soared 1.8% to 4,877 points

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