Crude oil prices have so far shown only a modest impact from Britain’s vote to leave the European Union on Thursday. Brent crude futures for the nearest contact to delivery were down by just over $2 per barrel or about 4 percent compared with the previous close at 0900 GMT on Friday morning. In both dollar and percentage terms the price move was about two standard deviations compared with all one-day price changes since 1990 ( tmsnrt.rs/28RMo3n and tmsnrt.rs/28RMrfy ). Far larger moves have been common in oil markets which suggests traders see the impact from the vote as relatively limited, at least for the time being ( tmsnrt.rs/28RMB6J and tmsnrt.rs/28RO79a ). Britain consumes less than 1.6 million barrels of oil per day, 1.6 percent of the global total, and the […]