According to APA-Economics, Brent crude has fallen below $62 since June 5, 2015, while it was $63. So, the Brent crude fell 3% to $61.36.
The western analytics think that this was caused by Iran’s return to black gold market and Greece’s reaching default, including exit from Eurozone.
If the events go on negatively for stocks, the responses of the stocks also will be adequate. For example, Brent crude may decline below $60.
Not to forget that Greek PM Alexis Trispras refused to conduct negotiations with the European Commission and IMF on debt. Then, he put this issue up for nationwide discussion and appointed a referendum for July 5.
Oil price decline is also affected by strengthening of dollar. Week-on-week, the Euro fall 3% compared to Dollar.
More about:
