Crude-oil prices slumped on Monday as investors sought refuge from financial markets that have been pummeled by the financial crisis in Greece. The Greek government has shut down the banking system for six days as it tries to buy yet more time to resolve its five-year debt crisis. The move puts Greece closer than ever to an exit from the euro, raising doubts about the future of the common currency itself. Read: Greek debt crisis: Latest news While there is no direct impact on oil markets, analysts said that the uncertainty is having a knock-on effect in most financial assets. The dollar USDEUR, +0.3283% strengthened against the euro and some other major currencies, which makes crude more expensive for non-U.S. buyers. The Wall Street Journal’s dollar index BUXX, +0.01% was 0.1% higher on Monday. “What happens in the currency, equity and bond markets can be very important for oil. Could oil go its own way?� asked David Hufton of PVM in London in a research note. Brent crude for August delivery LCOQ5, -2.07% fell 2.4% to $61.79 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures for August CLQ5, -2.00% were trading down 2.2% at $58.35 a barrel. Meanwhile, the oil market has again largely ignored the terrorist attacks in Kuwait and Tunisia. The market will be watching Iran, where Tuesday’s deadline for the Persian nation to reach an agreement over its nuclear program is likely to be extended. If an agreement can be reached, it could allow Iran to begin exporting crude to global markets, which would pressure oil prices further. Read: Iran may usher a quick return to $50 U.S. oil prices

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