Oil slumps after early returns show close Brexit vote - Dollar Advisory & Financial Services

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Friday 24 June 2016

Oil slumps after early returns show close Brexit vote

Oil costs drooped in early Asian exchanging in the wake of voting finished in a British submission on whether to stay in the European Union, with early returns demonstrating the "Leave" camp holding the lead.

US rough was down $1.54 at $48.58 a barrel at around 0117 GMT. Brent rough was down $1.47 at $49.44 a barrel. Both fell more than $2 a barrel at a certain point.

On Thursday, both contracts climbed forcefully, arousing on hopefulness that Britons would vote to stay in Europe.

"It resembles a rollercoaster ride in the business sectors at this moment, yet it's too soon to advise which side is going to win," said Bob Takai, president at Sumitomo Corp Global Research.

Early results from Britain's sharply challenged choice demonstrated a lead on Friday for supporters of leaving the European Union, repudiating supposition surveys.

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