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Oil Rises As Investors Focus on Britain's EU Referendum

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LONDON, June 23 (Reuters) - Oil prices rose by up to 2 percent on Thursday, shrugging off a smaller than expected draw on U.S. crude stocks as money and equity markets firmed after the last sweep of Brexit opinion polls raised optimism over Britain remaining in the EU.


Global markets, including commodities, have been on tenterhooks for weeks ahead of Britain's referendum on European Union membership on Thursday. The majority of results are expected to come in between 0100 and 0300 GMT following a YouGov poll shortly after voting closes at 2100 GMT.


Global benchmark front-month Brent crude was trading up 93 cents at $50.81 a barrel by 1035 GMT. It touched an intra-day high of $50.90 a barrel, up $1.02 from Wednesday's close.


http://www.downstreamtoday.com/news/article.aspx?a_id=52601


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