Oil prices edged lower in volatile trade on Friday amid continued uncertainty about the impact of the Brexit referendum on crude demand.
Brent crude LCOU6, -0.60% , the global oil benchmark, fell 0.6% to $49.41 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures CLQ6, -0.56% were trading down 0.6% at $48.05 a barrel.
Analysts at Barclays said that uncertainty in financial markets created by the U.K.’s vote to leave the European Union will be a drag for oil demand, which has already been weakening this year.
