06-07-2016 02:35 via uk.news.yahoo.com

Oil prices steady after slump on Brexit, supply risks

Oil prices were up slightly in early Asian trading on Wednesday after sharp falls in the prior session, but gains were limited by ongoing concerns about the economic impact of Britain's vote to leave the European Union and a glut of crude. Oil prices are up almost 80 percent from 12-year lows of around $27 for Brent and $26 for U.S. crude in the first quarter and they are ripe for supply shocks just as the so-called Brexit vote came as a body blow to global growth hopes. The rebound in crude was
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