Breakfast Briefing: Thursday, June 25

Market wrap: US stocks closed lower on Wednesday, dropping in a broad decline as the outcome of negotiations between Greece and its international creditors remained up in the air, prompting investors to drop riskier assets like equities. Wall Street has lately taken its cue from the situation in Greece, which needs fresh funds to avoid defaulting on a $1.8 billion debt repayment to the IMF on June 30. - Reuters

Crude oil futures settled down more than 1% on Wednesday after a government report showing an eighth straight weekly drop in US crude stockpiles was offset by a large build in refined products. Brent has been trapped in the US$62-US$65 range over the past two weeks while US crude has stayed within US$58 to US$61. - Reuters