Oil prices extend decline on Brexit vote

New York, June 28: Oil prices extended losses as the market remained volatile after Britain voted to leave the European Union in a historic referendum.

The West Texas Intermediate for August delivery on Monday lost $1.31 to settle at $46.33 a barrel on the New York Mercantile Exchange, while Brent crude for August delivery decreased $1.25 to close at $47.16 a barrel on the London ICE Futures Exchange, Xinhua news agency reported.

The Leave camp won Britain's Brexit referendum on Friday by obtaining nearly 52 per cent of ballots, pulling the country out of the 28-nation European Union (EU) after its 43-year membership.

Oil prices were also under pressure by a much-stronger US.dollar on Monday. The dollar index, which measures the greenback against six major peers, was up 1.16 per cent at 96.559 in late trading.

IANS