Investing.com - Oil futures dropped to four-week lows on Thursday as Brexit concerns persisted and U.S. crude stockpiles fell less than expected.
U.S. crude was lower for the sixth session in a row, falling 1.44% to $47.32 at 06:45 ET. Brent crude shed 1.43% to $48.27.
The U.S. Energy Information Administration said U.S. crude inventories fell by only 933,000 barrels in the latest week against a forecast fall of 2.3 million.
Surveys show a majority of voters are in favour of Brexit. Britain’s departure from the European Union could tip the bloc into recession, depressing oil demand.
The Federal Reserve said rate hikes this year are still on despite a lower growth outlook.
But Fed Chief Janet Yellen’s comments after the FOMC left rates on hold were seen as dovish.
The dollar fell sharply lower against the yen as the Bank of Japan also left policy on hold. A weaker dollar underpins oil.