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1st LD Writethru: Oil prices fluctuate amid Greek worries

Xinhua, July 3, 2015 Adjust font size:

Oil prices mixed Thursday as Greece remained in focus ahead of Sunday's referendum on the country's bailout terms.

German Chancellor Angela Merkel said Wednesday that there would be no negotiation over a new bailout program to Greece before the country's referendum, though the door for talks remained open.

Traders are also eyeing the progress of Iran nuclear talks. The negotiation between world powers and oil producer Iran to curb its nuclear ambitions dragged into a sixth day Thursday.

The ample U.S. inventories continued to weigh on the market. U. S. crude supplies of last week increased 2.4 million barrels to 465.4 million, according to Energy Information Administration's Wednesday weekly report.

Inventories at Cushing, Oklahoma, the delivery point for the U. S. contract added 0.2 million barrels to 56.4 million barrels. U.S. crude production gained 3,000 barrels to 9.6 million barrels a day that week.

The West Texas Intermediate for August delivery moved down 3 cents to settle at 56.93 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery increased 6 cents to close at 62.07 dollars a barrel on the London ICE Future Exchange. Endite