Oil prices continue slide

LONDON, July 6, 2016 – Oil prices failed to recover on Wednesday as concerns over the economic fallout of the UK’s vote to leave the EU continues to weigh on prices. Brent futures stood at USD 47.66 per barrel in the early hours of Wednesday. WTI futures fared no better, with the contract down to USD 46.60 per barrel.

Analysts are now looking to the delayed US crude inventory data for signs of a continued easing of the global supply glut. Figures from the American Petroleum Institute are expected later today, whereas the Energy Information Agency has its data scheduled for Thursday.

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