Oil prices fell on Wednesday

International benchmarks for oil prices stepped back from the recent hike Wednesday (22 June) as data from the US Energy Information Administration showed a smaller than expected drawdown in US petroleum inventories and a rise in gasoline supplies for the week ending 10 June. The oil market was also waiting for the outcome of the British referendum on Thursday on whether to leave the European Union.

WTI closed at $49.13/barrel (-$0.72) August delivery

Brent closed at $49.88/barrel (-$0.74) August delivery