Oil holds near three-week lows

Oil futures hovered below three-week lows on Tuesday as investors waited for developments in Greece following a bank shutdown, keeping them away from riskier assets and putting Brent crude on course for a second month of declines. Brent crude futures were down 9 cents at $61.92 a barrel at 0430 GMT, after falling to $62.01 on Monday, their weakest finish since June 5. The contract is heading for its second straight monthly decline. US crude dropped 15 cents to $58.18, having closed down $1.30 at $58.33 a barrel, its lowest settlement since June 8. It is set for its first monthly decline in three. "Greece is still the word," said Ben Le Brun, market analyst at OptionsXpress in Sydney. "That story doesn't look like stopping anytime soon," according to Reuters.