Oil prices have taken another tumble over concerns about the United Kingdom’s recent vote to exit the European Union (EU).
The prices of crude experienced more slump on Wednesday in Asian trade as the so-called Brexit vote continues to take a toll on equities and currency markets.
The markets’ reaction follows a warning by the Bank of England about risks from the June 23 Brexit vote that "have begun to crystallize." The UK money, the British pound, took a battering not seen since mid-1985, thus sending markets and subsequently oil prices into a nosedive.
Earlier this week, the British Brent dived 4.3 percent while America’s West Texas Intermediate shed 4.9 percent.
The trend of losses continued Wednesday as Brent was down another 30 cents, or 0.63 percent at $47.66, while West Texas Intermediate eased 33 cents, or 0.71 percent, to $46.27.
The two are well down from the levels above $52 touched at the start of last month.
"Uncertainties and concerns over how Brexit will influence the market is expected to last for a long time, increasing volatility in oil prices," Will Yun, commodities analyst in Seoul, South Korea, told Bloomberg.
"Even when we see a decline in stockpiles in the US, it's not strong enough to push prices up unless there are some major production cuts."
The news comes as the Organization of the Petroleum Exporting Countries (OPEC) is said to have increased crude production last month.
Oil prices had only recently rebounded from their January lows of under $30, and in May briefly pushed past $50 a barrel for the first time this year after the market gained support from production outages in Canada and Nigeria.
The prices of crude experienced more slump on Wednesday in Asian trade as the so-called Brexit vote continues to take a toll on equities and currency markets.
The markets’ reaction follows a warning by the Bank of England about risks from the June 23 Brexit vote that "have begun to crystallize." The UK money, the British pound, took a battering not seen since mid-1985, thus sending markets and subsequently oil prices into a nosedive.
Earlier this week, the British Brent dived 4.3 percent while America’s West Texas Intermediate shed 4.9 percent.
The trend of losses continued Wednesday as Brent was down another 30 cents, or 0.63 percent at $47.66, while West Texas Intermediate eased 33 cents, or 0.71 percent, to $46.27.
The two are well down from the levels above $52 touched at the start of last month.
"Uncertainties and concerns over how Brexit will influence the market is expected to last for a long time, increasing volatility in oil prices," Will Yun, commodities analyst in Seoul, South Korea, told Bloomberg.
"Even when we see a decline in stockpiles in the US, it's not strong enough to push prices up unless there are some major production cuts."
The news comes as the Organization of the Petroleum Exporting Countries (OPEC) is said to have increased crude production last month.
Oil prices had only recently rebounded from their January lows of under $30, and in May briefly pushed past $50 a barrel for the first time this year after the market gained support from production outages in Canada and Nigeria.
Posts
Thank you for reaching out to us. We are happy to receive your opinion and request. If you need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.
We will also try as much as possible to optimize your post for search engines as well.
Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $60 per article.
2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.
Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.
Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to advert @ alexa. ng
Normally, we should respond within 48 hours.