WTI crude oil for August delivery was down 1.3% to $58.92 a barrel Friday morning, and Brent crude oil for August delivery was down 1% to $62.58 a barrel.
Oil prices were falling Friday as investors wait for the outcome of the Iranian nuclear talks, according to Reuters. A nuclear deal with the country could lead to an increase in crude exports from the country while the market is already over-supplied.
Stalled talks between Greece and its creditors are also contributing to the lower oil prices.
Nike Jumps on Earnings Beat as Footwear Segment Rebounds
Nike easily topped analysts earnings and revenue expectations for the fiscal fourth quarter.
About 7.7 million shares of California Resources were traded by 10:40 a.m. Friday, above the company's average trading volume of about 5.5 million shares a day.