Oil Futures End At a Three-week Low

By Myra P. SaefongMarketWatch Pulse

Oil futures settled at a three-week low on Monday as financial turmoil in Greece sent global stock markets sharply lower and raised concerns over the prospects for energy demand. Traders also looked ahead Tuesday's deadline for a potential deal between Iran and the West that could lift sanctions on Iran and result in the addition of more oil to the global market. August crude lost $1.30, or 2.2%, to settle at $58.33 a barrel on the New York Mercantile Exchange. That was the lowest settlement since June 8.

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