Oil hits three-week lows as Greek crisis worsens; eyes on Iran

Crude futures hit three-week lows on Monday as Greece shut its banks and imposed capital controls, causing widespread risk aversion, while Iran looked likely to extend nuclear negotiations with the West to export more of its oil into an oversupplied market. While the trading week will be shortened by Friday's U.S. Independence Day holiday, a host of data is scheduled over the next three days, including Chinese, eurozone and U.S. manufacturing statistics and U.S. employment numbers for June.

Oil hits three-week lows as Greek crisis worsens; eyes on Iran source: http://finance.yahoo.com/news/oil-holds-near-three-week-024720981.html