Oil prices rebound in post-Brexit bargain hunting

Oil prices rose above $48 a barrel last Tuesday as investors took advantage of a two-day slide in crude following Britain’s vote to leave the European Union to lock in lower prices.

The vote result sent global stocks and currencies spiralling down, though oil price losses were relatively limited due to expectations of strong summer demand in Asia and the United States, as well as tightening supplies after a two-year rout.