The world prices for oil fell on Monday over fears over the debt
crisis in the EU and the market crash in Greece.
The RTS indicator dropped by 1.38% at 10.01 am, reaching 1602.85
points, the MCSE indicators dropped by 1.95% to 1488.61.
September futures for US WTI (Light Sweet Crude Oil) dropped by $1.29,
or 1.48%, to $85.95 per barrel at 9.04 am. October futures for Brent
dropped by a dollar, or 0.89%, to $111.77 per barrel.
German Finances Minister Wolfgang Schauble said on September 7 that
the Greek debt may leave it on its own with finding funds, as there
would be no support from the EU. The German government is developing a
plan for emergency support of banks to compensate investments into
bongs, 50% of the sum, should the Greek economy crash.
The Greek market crash may reduce WTI oil prices by $10 or $20,
Vice-President of Purvin & Gertz Inc. in Singapore, John Vautrain,
said.
The "G7" meeting of ministers of finances and heads of central banks
held in Marseilles on September 9-10 was to inspire optimism to
investors. They noted that economic growth rate is slowing down. But
they are ready to take countermeasures.