Crude oil prices remained fluctuating through the week. On Friday Crude oil market slumped by more than 6 percent after results of a landmark referendum showed Britain had voted to leave the European Union, causing huge market uncertainty and fracturing European efforts to forge greater unity.
On Friday U.S. crude was down $2.77 at $47.34 a barrel at around 0314 GMT. Brent crude was down $2.75 at $48.16 a barrel.
Market players have said that it's down for everything from equities to oil. Bad economies in the UK and Europe are not good for oil and there could be a domino effect on other economies in Asia.
Market report have said that prices and costs are regulating the market not OPEC so in near term oil prices will see more volatility than before.
On Thursday, closing crude values have increased.WTI on NYME closed at $50.11/bbl, prices have reduced by $0.98/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $ 1.03/bbl in compared to last trading and was assessed around $50.91/bbl
