Oil
prices rise on Norway strike threat; Brexit shock fades
Oil rose early on Wednesday as financial traders poured money back into
commodities following the initial shock of Britain's vote to leave the European
Union, and as a potential strike in Norway and crisis in Venezuela threatened
to cut supply. International Brent crude futures were trading at USD48.76 per
barrel at 0019 GMT (08:19 p.m. EDT), up 18 cents from their last settlement. US
West Texas Intermediate (WTI) crude was up 30 cents at USD48.15 a barrel. Both
crude oil benchmarks had climbed on Tuesday after financial markets shook off
some of the shock of last week's referendum in Britain in which most voters
elected to exit the EU, triggering turmoil across markets and regions.
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