Crude oil (WTI) is slipping by 2.03% to $58.42 per barrel and Brent crude is retreating by 2.12% to $61.92 per barrel this morning, according to the CNBC.com index.
The commodity is falling following the latest developments concerning the Greek debt crisis.
Greece has about $1.8 billion it must pay to the International Monetary Fund on Tuesday, but the growing concern is that the country will not be able to make that payment.
On Monday, Greece announced it has closed it banks until July 6 and issued capital controls, which has caused investors to run from risky assets and also weakened the outlook for demand, Reuters reports.
"This may be the time when we break lower and into the $50s for Brent as we have a full week of uncertainty," SEB head of commodity analysis Bjarne Schieldrop told Reuters.
Denbury Resources is a Plano, TX-based independent oil and natural gas exploration and production company.
Separately, TheStreet Ratings team rates DENBURY RESOURCES INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate DENBURY RESOURCES INC (DNR) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."