Oil futures fall on Brexit concerns, global growth
The Dollar Business Bureau Oil futures prices declined on Tuesday, over investor’s concerns on next week's vote on UK’s likely exit from European Union; this impacted the global financial markets, lowering the signs of recovering crude prices. Considered safe investments like the German Bunds and Swiss Franc rallied, whereas equity markets and industrial products, considered sensitive to economic uncertainty, declined after the polls showed that UK’s ‘Out’ campaign is leading before a vote on membership in the EU. This outshone a more positive prediction for growth in oil demand from the International Energy Agency (IEA), which stated that the oil market is quite balanced after oversupplies of two years. The futures of Brent crude oil declined by 69 cents to $49.66 per barrel at ...
