Oil futures continued to drop in Asian trade Monday as uncertainty over the Iranian nuclear deal carried over from last week and Greece continues to be in limbo. Data showing strong Chinese oil imports for June also failed to limit losses as investors remained cautious over the stability of Chinese stock markets and projections of persistent oversupply of crude oil in the coming months. On the New York Mercantile Exchange, light, sweet crude futures for delivery in August traded at $51.93 a barrel at 0339 GMT, down $0.81 in the Globex electronic session. August Brent crude on London’s ICE Futures exchange fell $1.04 to $57.69 a barrel. Oil prices have dropped for two consecutive weeks, during which Nymex oil futures have lost 11.6% and Brent crude has lost 7.2%. U.S. oil prices have seen a sharper drop due to the resilience of shale oil production. The U.S. oil-rig count […]