The oil prices have shown a significant increase after a massive and continuous decline. This increase took place in the wake of announcement of the results of referendum in the Great Britain.
The referendum took place a day before yesterday. On Friday evening, the global oil price settlement for the London Brent Crude was estimated at 48.40 U.S dollars per barrel. The London Brent Crude oil price was at 47.53 U.S dollars per barrel at the start of Friday morning. Point to be noted that the settlement price of the U.S Crude oil also increased at 47.63 U.S dollars per barrel. The price of U.S Crude oil was standing below and estimated at 46 U.S dollars per barrel prior to the start of trading on Friday morning.
It is important that all these changes came after the declaration of results of historic referendum and the British people voted in the favor of pulling out the Britain from the European Union. This referendum was named “Brexit” and generated a wave of unseen risk and finding of safe place of investment such as the U.S dollars. Point to be noted that investment in the U.S dollar currency would increase the demand of U.S dollar and it would also increase the value of the U.S dollars against most of the international currencies in the world. Most of the Iraqi Dinar Investors also predicted that it would reflect a negative impact against the Iraqi Dinar currency. So, they suggested not to Buy Iraqi Dinar because it is a more suitable time to Sell Iraqi Dinar to safe their investment.