Crude oil futures remained in free fall Monday as the UK’s shocking Brexit raised concerns about global demand for energy products.
Analysts say the break-up could lead to a recession for the fragile economies of the EU and UK.
August WTI crude settled at $46.33 a barrel on the New York Mercantile Exchange, down $1.31, or 2.8%. Oil has plunged from a 2-year highs above $51.
A strong dollar also continued to weigh on oil prices. The dollar has surged to its highest in 31 years versus the sterling.
The material has been provided by InstaForex Company – www.instaforex.com