CRUDE OIL HEMORRHAGING AMID BREXIT FEARS

Oil-Field
WASHINGTON (Alliance News) – Crude oil prices plunged to their lowest in a month Thursday, extending this week’s steep recent losses.

Fears of a possible exit of the UK from the EU continued to spook oil traders.

Markets are anxious that a fractured Europe could spell the start of another global recession.

Analysts point to the return of Iranian production as another bearish sign for oil prices.

July WTI oil was down USD1.80, or 3.8%, to settle at USD46.21/bbl on Nymex.

Prices have collapsed since hitting a 10-month peak near USD52 a week ago.

Copyright RTT News/dpa-AFX

Newsletter Signup

Want to recieve regular updates from us, sign up to our newsletter to be in the know.