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Oil slid more than 1 percent on Monday, with U.S. crude falling close to a six-year low, after Greek election results heightened uncertainty in the euro zone and depressed the bloc's currency against the dollar. Greece's left-wing Syriza appeared on course to trounce the ruling conservatives in Sunday's snap election, setting up a possible confrontation with international creditors. March Brent crude fell 71 cents to $48.08 a barrel by 0718 GMT, wiping out light gains made on Friday after the death of Saudi King Abdullah, but it was off an early low of $47.85. West Texas Intermediate (WTI) crude for March delivery was trading down 69 cents at $44.90 a barrel.
Serena Williams displayed all her fighting qualities to stay alive at the Australian Open Monday along with defending champion Stan Wawrinka and Japan's Kei Nishikori, but two-time champion Victoria Azarenka was knocked out. The world number one battled back from a set down in a tense match against Spain's Garbine Muguruza to win 2-6, 6-3, 6-2 and make the quarter-finals, staying on track for a 19th Grand Slam title and her sixth at Melbourne. She will next face last year's finalist Dominika Cibulkova, the 11th seeded Slovak who ended the comeback from injury of Azarenka in three tight sets. Her elder sister Venus has a chance of joining them in the last eight, facing Polish sixth seed Agnieszka Radwanska in a night match with the evergreen 34-year-old in the second week of a Slam for the first time since Wimbledon 2011.