This article is from the source 'washpo' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.washingtonpost.com/world/europe/the-latest-pound-drops-after-uk-sets-eu-referendum-vote/2016/02/22/b1a3d904-d948-11e5-8210-f0bd8de915f6_story.html
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| The Latest: Oil price rises despite gloomy forecast | |
| (about 2 hours later) | |
| LONDON — The Latest on global financial markets (all times local): | LONDON — The Latest on global financial markets (all times local): |
| 12:00 p.m. | |
| The price of oil is rising despite a gloomy forecast by the International Energy Agency. | |
| The U.S. benchmark for oil was up $1.19 at $32.94 a barrel in electronic trading in New York on Monday. The international benchmark, Brent, was $1.27 higher at $34.28 a barrel in London. | |
| The IEA said Monday that it expects the price of oil to rebound more slowly than it had earlier predicted. It said a glut of oil is likely to keep prices from any significant recovery until next year. | |
| The drop in the price of oil, which has been caused by high supply as well as weakening demand, has been unsettling stock markets in recent weeks. | |
| ___ | |
| 9:40 a.m. | 9:40 a.m. |
| The pound is down sharply on concern that Britain’s popular vote on whether to leave the European Union could be closer than expected after senior politicians joined the “leave” campaign. | The pound is down sharply on concern that Britain’s popular vote on whether to leave the European Union could be closer than expected after senior politicians joined the “leave” campaign. |
| London Mayor Boris Johnson on Sunday said he would support the campaign in favor of leaving the 28-country bloc, arguing it would help restore power over national policies from Brussels. | London Mayor Boris Johnson on Sunday said he would support the campaign in favor of leaving the 28-country bloc, arguing it would help restore power over national policies from Brussels. |
| Many investors and businesses are wary of such a move, however, as it creates uncertainty and could hurt the economy, at least in the short term. Economists say the U.K. largely benefits from the EU’s freedom of money and labor. | Many investors and businesses are wary of such a move, however, as it creates uncertainty and could hurt the economy, at least in the short term. Economists say the U.K. largely benefits from the EU’s freedom of money and labor. |
| The pound was down 1.7 percent at $1.4166 on Monday. | The pound was down 1.7 percent at $1.4166 on Monday. |
| Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. | Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |