EMEA News
#Brexit & Bunkers: Brent Crude Goes Into Free Fall as UK Votes to Leave the EU
Brent crude was sent into free fall during early trading Friday, down over 6 percent and under $48/bbl at the time of writing, as media reported the result of the so-called Brexit referendum showed the UK has voted to leave the EU.
Crude was pushing $51/bbl earlier in the day on reports the vote was set to go the other way.
WTI faired better, down around 1 percent and just under $49/bbl.
Major bunkering hub Gibraltar voted 96 percent in favour of Remain.
Media have already suggested questions over sovereignty will now be brought into the spotlight following the victory for Leave.
With traders in various markets having previously been expecting a win for Remain, the vote to leave caused carnage in world markets, and the pound plunged to a 31-year low.
Bunker buyers should expect a bumpy Friday, and volatility ahead.
