Oil Prices Continue To Fall
New York, NY, June 20, 2011 -- Oil prices continued their downward trend Monday, falling to below $92 a barrel in Asia as Greece's deepening financial crisis undermined confidence in the euro.
Benchmark oil for July delivery was down $1.43 to $91.58 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost $1.94, or 2 percent, to settle at $93.01 on Friday.
In London, Brent crude for August delivery was down $1.15 to $112.06 a barrel on the ICE Futures exchange.
A strengthening U.S. dollar has helped drag crude down from almost $115 early last month.