Oil prices fall into losses

FXStreet (Mumbai) – Crude prices at both the sides of the Atlantic fell into losses after EU meeting ended with no concrete Greek deal.

Oil ignores risk-on rally in equities

Prices turned lower even though EU chief expressed confidence that a deal with Greece could reached by the weekend. Safe haven assets like Gold extended the decline, however, the common currency hardly reacted to the news. Moreover, crude prices have not been able to extend gains on increased risk appetite seen in the US equity markets.

Earlier today, crude prices recovered from the lows on increased hopes of Greek deal after the positive developments over the weekend.

At the moment, WTI Crude futures are down 55 cents or 0.93% at USD 59.42/barrel, meanwhile, Brent futures are down 45 cents or 0.72% at 62.58/barrel.

Crude prices at both the sides of the Atlantic fell into losses after EU meeting ended with no concrete Greek deal.

(Market News Provided by FXstreet)