Oil fell more than $1 to below $62 per barrel on Monday, its lowest in three weeks, as Greece shut its banks and imposed capital controls, causing investors to flee from riskier assets and darkening the demand outlook. The European Central Bank froze funding support to Greece’s banks after bailout talks between the government and foreign creditors broke down at the weekend, leaving Athens with little choice but to shut the system to keep lenders from collapsing. Brent crude LCOc1 was down $1.36 at $61.90 a barrel by 0828 GMT. It fell to its lowest since June 5. U.S. crude CLc1 was down $1.25 at $58.38 a barrel, its lowest since June 9. Further weakness is likely as the situation in Greece will not be resolved until a referendum at the weekend on whether to accept conditions for a bailout, analysts said. “This may be the time when […]