Oil moves further below $60 as dollar firms up

Crude-oil futures fell in early European trade on Monday as a rising dollar put pressure on the commodity as holidays across some major markets, including the U.S., were expected to keep trading thin.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in July CLN5, +0.08%   traded at $59.31 a barrel, down $0.67 in the Globex electronic session. July Brent crude LCON5, -0.15%  on London’s ICE Futures exchange fell $0.20 to $65.17 a barrel.

The weaker trend for oil prices came as the dollar gained ground across major currencies. Worries about Greece were a part of that action. A strengthening dollar weakens the appeal of crude, which is denominated in dollars, for holders of other currencies.

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