The consequences of the British referendum revive oil prices
06/29/2016 11:39
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Oil prices rose on Wednesday, taking advantage of Venezuela 's crisis , which threatens to cut the country 's supply, and the possibility to organize a strike in Norway, as well as the consequences of the referendum the British exit from the EU.
And helped financial investors to pump money into the markets after the shock of Britain out of the European Union, to raise the price of Brent crude oil with 26 cents to $ 48.84 a barrel at 04:22 GMT.
As about 755 Norwegian factor in seven oil and gas fields could begin strike action as of Saturday, if it does not reach a new agreement on wages before the deadline, on Friday, which will affect the country 's production of crude.
analysts had expected a rise in oil prices due to Britain out of the European Union, to revert back to $ 50 a barrel, and that due to the impact of the referendum on the application earlier.
in the meantime, the American petroleum Institute revealed decline in the country 's stocks of crude by about 4 million barrels in the week ended June 24. https://www.alliraqnews.com/modules/news/article.php?storyid=41914