Market jitters over the looming U.K. referendum on whether to leave the European Union, a so-called Brexit, fueled concerns about a potential slowdown in energy demand and a recent rise in the number of U.S. rigs drilling for oil pointed to a possible uptick in crude production levels.
On the New York Mercantile Exchange, July West Texas Intermediate crude CLN6, +0.67% fell $1.80, or 3.8%, to finish at $46.21 a barrel. That marked the lowest close since May 13. August Brent crude LCOQ6, +1.00% fell $1.78, or 3.6%, to settle at $47.19 a barrel on London’s ICE Futures exchange.
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