SINGAPORE: World oil prices dived in Asia Friday after early results of a historic vote showed Britain increasingly moving to bolting out of the European Union.
Asian currency and stock markets swung wildly as the early results in the high-stakes referendum showed the camp favouring an exit leading those who want the country to remain.
Results from 200 of 382 local areas in the referendum gave Brexit a clear lead. The number of votes cast stood at 7.8 million for “Leave”, 51.69 percent, compared to 7.3 million for “Remain”, or 48.31 percent.
Several world leaders have warned that a British exit, or Brexit, of the EU would lead to a recession with global spillover effects.
At around 0305 GMT, US benchmark West Texas Intermediate for August delivery fell $2.12, or 4.23 percent, to $47.99 a barrel.
Brent North Sea crude, which is traded in the European markets, was down $2.06, or 4.05 percent, to $48.85 a barrel.
