Crude oil futures plunged Tuesday amid speculation markets are oversupplied during a time of significant economic uncertainty.
Brexit-related fears resurfaced after three U.K. property funds halted redemptions, citing the need to raise cash before returning money to investors.
Meanwhile, reports citing Genscape said stockpiles in Cushing, Okla., rose in the week ended Friday, against expectations for another draw down.
Aug. WTI oil dropped $2.39, or 4.9%, to settle at $46.60/bbl, the biggest daily loss since February.
The material has been provided by InstaForex Company – www.instaforex.com