Crude oil futures plunged Friday morning after a landmark decision for UK voters to leave the European Union.
The win for Brexit was officially declared by Prime Minister David Cameron, with the final result 51.9% for “leave” and 48.1% for “remain.” Cameron then resigned.
Markets everywhere have been rocked by the news. European averages tumbled and the pound crashed to its lowest levels in 31 years.
Stung by demand concerns, WTI light sweet crude oil for August is down $2.20, or 4.4 percent, to $47.90 a barrel.
The material has been provided by InstaForex Company – www.instaforex.com