Tuesday 14 June 2016

Oil futures fall as global growth, Brexit concerns weigh

Crude oil futures fell in Asian trade on Tuesday, as investors ignored signs of market tightness to focus on concerns over global growth and overnight declines in stocks on the impending vote on Britain's possible European Union exit.

Brent crude oil futures slipped below $50 a barrel, falling 50 cents to $49.85 by 0226 GMT, easing for a fourth successive day.

U.S. crude was down 53 cents, or 1 percent, at $48.35 a barrel, also down for a fourth day in a row.

A stronger dollar overnight spilled into the oil market, while markets eyed recent polls showing Britain's "Leave" campaign in the lead ahead of a referedum on membership of the European Union.

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