Posts Tagged ‘norway’

Oil Prices Rise As Brexit Shock Fades and Norway Strike Looms

Wednesday, June 29th, 2016

Oil rose on Wednesday (June 29) 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.

Brent crude futures were trading at $48.84 per barrel at 0422 GMT, up 26 cents from their last settlement. U.S. crude was up 35 cents at $48.20 a barrel.

Both oil benchmarks had climbed on Tuesday (June 28) after markets shook off some of the initial shock from the referendum in Britain in which most voters elected to exit the EU.

(more…)