Oil below $75

Oil fell below 75 dollars in volatile Asian trade yesterday as Greece's credit standing suffered another knock, which offset positive European industrial production numbers, analysts said.
New York's main futures contract, light sweet crude for delivery in July, slid 30 cents to $74.82 a barrel in the afternoon.
Brent North Sea crude for July delivery -- which expires later Tuesday -- eased 31 cents to $74.89.
Oil prices were restrained by the Moody's downgrade of debt-laden Greece's sovereign rating to "junk" status on Monday, said Victor Shum, senior principal of the Purvin and Gertz energy consultancy in Singapore.