Investing.com – Oil Wednesday extended sharp losses overnight on Brexit fears.
U.S. crude was down 58 cents, or 1.24%, at $46.02 at 07:15 ET, while Brent crude shed 1.48% to $47.25.
The flight to safety continued as global economic slowdown fears in the wake of Brexit re-emerged.
Sterling fell to its lowest levels against the dollar since 1985, while the safe-haven yen jumped.
American Petroleum Institute crude stockpile data are due out later Wednesday.
Energy Information Administration figures due out Thursday are forecast to show a drop in crude stocks of 2.5 million barrels.
The dollar index was flat. A stronger dollar undermines demand for oil.