Oil prices ease

Singapore
Oil prices eased in Asia Friday ahead of a weekend bailout reform referendum in Greece that could determine its future in the Eurozone.
West Texas Intermediate for August delivery was down 24 cents at $56.69 while Brent North Sea crude was 15 cents lower at $61.92. Greek voters will be asked to vote either "yes" to a bailout package offered by creditors in exchange for tougher austerity measures, or "no" in support of the leftist government´s bid to gain better terms. Prime Minister Alexis Tsipras called the poll after breaking off debt reform talks with the country´s creditors -- leading it to default on a loan repayment Tuesday.
European leaders have warned that it is effectively now an in-out vote on Greece´s future in the Eurozone. "Negotiations (between Greece and lenders) appear to have ground to a standstill with everyone awaiting the results of Sunday´s vote," said analyst Nicholas Teo of CMC Markets in Singapore.