Crude oil prices down – with UK exit from EU

Crude-oil prices slid more than six percent in early trade on Friday after the UK voted to leave the European Union.

The uncertainty over the U.K’s future has battered the British pound while the U.S. dollar rose sharply.

Crude futures for delivery in August traded at US$47.38  a barrel down $2 .64 .

As oil is pegged to the dollar, traders with foreign currencies tend to hold back their buying when the dollar is strong.

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