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Current location:HOME>> News>> Industry News>> What may happen in the aftermath of UK leaving the EU?
What may happen in the aftermath of UK leaving the EU?
AUTHOR:admin PUBLISHED:2016-06-28 CLICK:正在读取

UK Vote Likely to Drive up Energy Costs. A weak British pound may cause energy costs to rise in the aftermath of the UK's decision to leave the EU says Peter Martin, a senior economist at Wood Mackenzie. Britain is a net importer of energy and the trend is expected to grow, putting imports at 55% by 2030. After the vote, the sterling weakened significantly against the US dollar, which is the currency of choice for buying oil. "A permanently weaker pound against the US dollar will increase the cost of oil imported into the UK," he says. "This could feed down the supply chain to higher consumer prices."

Oil Market Will Get Used to the 'New Normal' After Brexit. Oil prices will see strong fluctuation in the coming days and even weeks but soon, financial players across all markets will get used to the "new normal" and adapt to reality, says Grace Liu, head of petrochemical at Guotai Junan International. "The market has already begun to stabilize now we have clarity on the situation. Besides, this is an unexpected shock but not the end of the world," she adds, saying oil investors will shift their focus back to the fundamentals, which are showing steading improvement. She tips oil prices to meet strong resistance at $45 a barrel.

BP Doesn't See Significant Impact from U.K. Leave Vote. U.K. oil giant BP PLC says that while it's too early to understand the detailed implications of the U.K. vote to leave the EU, the company doesn't currently expect a Brexit to have a significant impact on its business. "Uncertainty is never helpful for a business such as ours. However, we do not currently expect it to have a significant impact on BP's business or investments in the UK and Continental Europe, nor on the location of our HQ or our staff," BP says in a statement. BP shares are down 1.2% amid a broad sell off across markets, a plunge in the pound and a 5% fall in the oil price.

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