On the New York Mercantile Exchange, light crude futures for March delivery were traded at $53.16 per barrel, while on London’s ICE Futures exchange Brent crude for April delivery mounted by $0.70/1.1% reaching $62.10 a barrel.
Meanwhile the talks over a new financing deal for Greece broke down Monday, sparking controversy between Athens and its creditors. A growing uncertainty regarding the economic prospects of Greece within the bloc is predictably undermining the euro. In contrast, the US dollar is strengthening steadily. Experts note that the trend is likely to sour oil-market sentiments; however, Brent crude has beaten its second-highest record since the beginning of the year.