Oil futures continued to trade lower Friday afternoon, as the U.K.’s vote to leave the European Union raised economic concerns and the potential for a slowdown in energy demand. August crude was at $47.86 a barrel on the New York Mercantile Exchange, down $2.25, or 4.5%. It traded above the session’s low of $46.70, however, finding some support after Baker Hughes showed that the weekly number of active U.S. rigs drilling for crude fell for the first time in a month. The oil-rig count fell by 7 to 330 as of Friday. The total U.S. rig count edged down by 3 to 421.
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