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Crude oil prices fell by more than USD 1 on Monday

June 20/2011

(Reuters) - Crude oil prices fell by more than USD 1 on Monday, extending last week's losses, with risk aversion rising after euro zone finance ministers postponed a final decision on emergency loans to Greece. By 1200 GMT, Brent crude fell by USD 1.50 a barrel to USD 111.71 a barrel, while U.S. oil lost USD 1.30 a barrel to USD 91.71 a barrel.


"The crisis in Greece has resulted in higher risk aversion, which is weighing on oil prices," Commerzbank analysts led by Eugen Weinberg said in a note.


Euro zone finance ministers postponed a final decision on extending 12 billion euros (USD 17 billion) in emergency loans to Greece, pending approval of the introduction of harsh austerity measures by Athens, which pushed the common currency lower.


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