01.07.2016 - Brexit won't alter $40-50/bbl oil price range for better or worse
After the UK became the first European Union member nation to exit the bloc following a referendum on 23 June, oil futures inevitably got caught up in the market melee that ensued. Trailing a wider equities market sell-off, and a weakening of G10 currencies – excepting the yen – oil futures endured short calls for two successive sessions following the vote. Yet, at end of the kerfuffle and week on from the Brexit vote – both Brent and WTI front month contracts continue to lurk just below the $50 per barrel mark, unable to mount either a sustained climb above it, or slide into a decline substantially below it...............................................Full Article: Source
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