World oil prices on Tuesday have increased decline during today’s trading amid fears of markets for the stability in world demand for “black gold” in connection with Britain’s decision to withdraw from the EU (Brexit), as well as news on output growth in Nigeria.
As of 14:32 GMT the cost of the September futures for North sea petroleum mix of Brent crude dipped by 2.34% to $48.93 a barrel. The price of August futures on WTI fell by 2.71% to $47,66 per barrel, reports RIA “Novosti”.
The markets continue to react to the decision of the UK to leave the EU. Investors fear that a Brexit could adversely affect the economies of other countries around the world, which will reduce the demand on the oil market.
In addition, the markets with negative take the news that Nigeria, despite repeated attacks by the radical group “Avengers of the Niger Delta” on oil installations in the country in June increased the average daily oil production by 90 thousand barrels to 1.53 million barrels a day.
