Oil falls after Greek election sends euro tumbling

PUBLISHED ON JAN 26, 2015 11:28 AM

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SINGAPORE (Reuters) - Oil slid in early Asian trade on Monday, with US crude falling close to a six-year low, after Greece's election results heightened uncertainty in the euro zone and depressed the bloc's currency against the US dollar.

Greece's left-wing Syriza appeared on course to trounce the ruling conservatives in Sunday's snap election, setting up a possible confrontation with international creditors.

March Brent crude fell 37 cents to US$48.42 a barrel by 0226 GMT, wiping out light gains made on Friday after the death of the Saudi King Abdullah but off an early low of US$47.85.

West Texas Intermediate crude for March delivery was trading down 46 cents at US$45.13 a barrel. Front-month WTI earlier slid to an intraday low of US$44.35, just above US$44.20 hit on Jan. 13, which was the lowest since April 2009.

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