Oil prices fell on 6 July in reaction to several factors. The trigger was the Greek vote on Sunday 5 July, with the Greek people voting against further austerity. Oil prices in Asia began falling Sunday PM after the Greek vote and continued doing so Monday. In the 2 July 2015 Macro Oils Monthly Update, we forecast Brent would average $60 per barrel in July, a moderate decline from June. The forecast is dependent, however, on the recovery we have seen in oil demand growth so far in 2015.