On Friday, oil futures edged up during early Asia trade. It appeared to be the first commodity’s leap for up to seven days as financial markets took a breather from worries regarding the impact of the UK’s probable exit from the EU.
Brent crude futures gained 0.8%, trading at $47.57 per barrel, having tumbled 3.6% last trading session. The given contract has found itself on track to sag more than 5.5% for the week.
Meanwhile, US West Texas Intermediate oil futures climbed up 0.6%, being worth $46.48 per barrel. During the previous trading session, the contract lost 3.8%.
The British pound managed to ascend from its two-month minimum after campaigning for next week's referendum dubbed Brexit was suspended due to Thursday’s murder of Jo Cox, the British member of parliament, who was a vocal advocate for the UK to stay in the European Union.
Commodities across the board also reported revenues, while equity benchmarks including Japanese Nikkei stock average edged up.