REUTERS
Oil futures fell again on Wednesday as anxiety over the Greek debt crisis and China's stock market turmoil outweighed an expected U.S. inventory drop, with traders anticipating further drops.
Front-month Brent crude futures were 60 cents lower at $ 56.25 a barrel at 06:57 GMT, and are down over 6% so far this week to levels last seen in April, Reuters has reported.
U.S. crude was down 59 cents at $ 51.74, down more than 8% for the week.
"Turmoil in China and Greece may put recent robust demand growth at risk," Morgan Stanley bank said, although adding that moves so far had been largely on sentiment rather than new oil fundamentals.
China's stocks tanked further on Wednesday in a deepening crisis in which China's Securities Finance Corp said it would provide liquidity to ease "panic" as 45% of all China-listed firms have suspended trading.
China's CSI300 index has lost a third of its value since June in the steepest downward correction since the global crisis in 2008, forcing China's central bank to say it would support stability in the stock market and guard against systemic and regional financial risks.
HSBC on Wednesday cut its 2015 growth outlook for Asia excluding Japan to 6.3% from 6.5%.