Oil prices fall as Brexit lingers, refined
products glut looms
Oil
prices dropped on Monday, extending sharp declines after Britain's vote to
leave the European Union sparked a sharp selloff in global markets on Friday.
Global financial markets plunged on Friday as results from a referendum defied
bookmakers' odds to show a 52 percent to 48 percent victory for the campaign to
leave a bloc Britain joined more than 40 years ago. Brent crude futures were
down 15 cents at USD 48.26 a barrel by 0238 GMT on Monday, after settling down
USD 2.50, or 4.9 percent, at USD 48.41 on Friday. US crude was down 25 cents at
USD 47.39 a barrel, after closing down USD 2.47, or 4.9 percent, on Friday.
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