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Monday, 27 June 2016

MCX Trading Tips with News on Crude Oil

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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