WSJ:OIL FUTURES: Crude Down On Greek Referendum, Strong Dollar
By Konstantin Rozhnov
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--Crude oil futures fell Tuesday following Greece's decision to hold a popular referendum on the plan to solve its sovereign debt crisis and amid a stronger dollar.
All risky assets, including oil, are falling, as Greece's move added new uncertainty over Europe's debt crisis, said Ole Hansen, futures and fixed income trading desk manager at Saxo Bank.
Weaker-than-expected manufacturing figures from China, one of the world's major oil consumers, also pressured oil futures, analysts said.
At 0848 GMT, the front-month December Brent contract on London's ICE futures exchange was $1.52, or 1.4%, lower at $108.04 a barrel. The front-month December contract on the New York Mercantile Exchange was trading down $1.70, or 1.8%, at $91.49 per barrel.
-By Konstantin Rozhnov, Dow Jones Newswires; +44 207 842 9956; konstantin.rozhnov@dowjones.com
