Oil prices fall on profit-taking

LONDON, July 1 (AFP): World oil prices fell on Friday as traders took profits from recent gains that stemmed from a weaker dollar and easing concerns over Greece's debt crisis. Brent North Sea crude for delivery in August sank $1.03 to $111.45 in early London trade. New York's main contract, West Texas Intermediate for August, fell 61 cents to $94.81 a barrel. "We are seeing some profit-taking now as prices consolidate," said analyst David Morrison at trading group GFT. Oil prices have rallied for much of the week after a vote in the Greek parliament eased worries about a potential eurozone default that could slash global energy demand. Greece's parliament Thursday passed a tough austerity plan to avert a debt default that risked shaking the rest of Europe and the global financial system.