PTT:Brexit affects oil prices in short run

BANGKOK, June 28 (TNA) - PTT Public Company Limited (PTT), Thailand's largest petroleum firm, says that global oil prices have continued to move in volatility but the prices should have only short-term impacts, following Britain's decision last week to leave the European Union (EU), or Brexit. Saran Rungkasiri, PTT Chief Operating Officer, Downstream Petroleum Business Group, told journalists on Tuesday that global crude oil prices have fallen after the majority of people in the United Kingdom voted to leave EU on June 23, with the price of Dubai crude, for example, having dropped to 45 US dollars per barrel and moved in volatility since then. Saran assessed that the price of the Dubai crude would probably move between 42 and 48 US dollars a barrel and its average price for the calendar 2016 would be around 40 US dollars per barrel, while consequences of Brexit should be clearly seen after the next two years when Britain actually leaves EU. (TNA)