Oil prices turn higher after Brexit collapse

NEW YORK, June 28 (UPI) -- A revision upward for growth in the U.S. economy was enough Tuesday to erase two straight days of heavy losses in crude oil prices sparked by the Brexit.

The U.S. economy showed signs of resilience in the first quarter, with the Commerce Department revising its growth estimate from 0.8 percent to 1.1 percent.

"The increase in real gross domestic in the first quarter reflected positive contributions from personal consumption expenditures, residential fixed investment, state and local government spending, and exports that were partly offset by negative contributions from nonresidential fixed investment, private inventory investment, and federal government spending," the Commerce Department said.

http://www.upi.com/Business_News/Energy-Industry/2016/06/28/Oil-prices-turn-higher-after-Brexit-collapse/6821467121081/?nll=1