1st LD Writethru: Crude prices fall amid Greek debt crisis

Oil prices went down Friday as there is no agreement in sight over Greek debt crisis.

Euro zone leaders will hold an emergency summit Monday to try to avert a Greek default. This came after a crucial Eurogroup meeting ended without an agreement over the Greece debt issue.

"No agreement is in sight over Greece' debt deal," Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem told press after Euro zone finance ministers' meeting in Luxembourg Thursday.

U.S. dollar rose against euro on Greek debt crisis. Oil prices dropped as U.S. dollar appreciated against other currencies. A stronger greenback made the dollar-priced crude more expensive and less attractive for buyers holding other currencies.

Saudi Arabia's Oil Minister Ali al-Naimi said Thursday that he is optimistic about the market in the months ahead, considering the continued improvement and increased global demand, and reduction in the level of commercial stocks.

Light, sweet crude for July delivery moved down 84 cents to settle at 59.61 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery lost 1.24 U.S. dollars to close at 63.02 dollars a barrel. Endite