Updated on
Summary Oil prices fell to a fresh four-month low as Greeces debt crisis continued to weigh on investors.
In electronic trading, oil for July delivery fell nearly 6.3 percent to $92.12 a barrel, its lowest intra-day level since Feb. 22 before heading back up to $93.81 later in the morning.Fears about Greece defaulting on its debt have kept investors on edge for more than a year, but they escalated this week after riots erupted in Athens in response to austerity measures.In response, Greek Prime Minister George Papandreou reshuffled his cabinet Friday, and European finance ministers are scheduled to meet Sunday to discuss a possible bailout package.The possibility of a Greek default rippling through the world economy has investors fearful about any kind of risk assets like stocks and oil.
Featured
