Oil Extends Decline As Brexit Concerns Linger

One America News Network | 2/11/2016 | Staff
TimHyuga (Posted by) Level 3
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TOKYO (Reuters) – Oil prices dropped around half a percent on Monday, extending sharp declines after Britain’s vote to leave the European Union sparked a sharp selloff in global markets on Friday amid concerns over risk aversion.

Global financial markets plunged on Friday as results from a referendum defied bookmakers’ odds to show a 52-48 percent victory for the campaign to leave a bloc Britain joined more than 40 years ago.

London - Brent - Crude - August - Delivery

London Brent crude for August delivery was down 24 cents at $48.17 a barrel by 2250 GMT on Sunday, after settling down $2.50, or 4.9 percent, at $48.41 on Friday.

NYMEX crude for August delivery was down 26 cents at $47.38 a barrel, after closing down $2.47, or 4.9 percent, on Friday.

Oil - Prices - Pressure - Pound - Trading

Oil prices were also under pressure as the British pound fell anew in early Asian trading on Monday, with investors still at a loss as to...
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