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Greek Concerns Weigh Down on Oil

Renewed fears that Greece could default on its debt weighed down on riskier currencies and commodities, like crude oil, during trading late last week. Commodities like oil often go down in price when they become less affordable to international buyers. Crude closed out the week at $98.99 a barrel, almost a full dollar below where it was trading during Thursday's session.

This week, in addition to following the ongoing developments in the euro-zone, oil traders will also want to watch fundamental indicators out of the US. Some risk taking might return to the market if any of the US fundamentals show growth in the US economy. The news could signal increased American demand in for oil, which may help boost prices.

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