Oil Declines a Third Day as Greek Referendum Plan Raises Risk of Default

Bloomberg reported that oil prices dropped for a third consecutive day over European debt concerns.

As quoted in the market news:

Prices dropped from the settlement as the industry-funded American Petroleum Institute reported at 4:30 p.m. that U.S. crude-oil stockpiles fell 156,000 barrels to 339.9 million last week. December oil was down $1.55, or 1.7 percent, to $91.64 a barrel in electronic trading at 4:34 p.m.

Click here to read the full Bloomberg report.