The July WTI crude oil futures contract in NYMEX ACCESS trade at 17:15 Tokyo time on Tuesday was at $48.18 per barrel (bbl), down 70cts from the closing price in New York on Monday while the August Brent contract in ICE After Hours Trading was at $49.69/bbl, down 66cts from the close in London on Monday. Declines for crude oil futures prices in the afternoon session were deeper than declines seen during trade in the morning session. With recent crude oil prices hovering near the $50/bbl mark, "concerns emerged with regards to crude oil production levels in the US", Jun Inoue, a chief economist at Mizuho Research Institute, pointed out, adding that an increase in the number of rigs actively drilling for oil in the US and the growing possibility of the UK leaving the European Union has led to risk-asset selling, all of which is dragging global stock markets lower and crude oil prices as well. Meanwhile, the Nikkei Stock Average closed Tuesday at 15,859.00, down 160.18 points from the previous day as the dollar traded at 105.92 to the yen.

RECX-22 index for Monday was at 72.06 points, down 1.05 points from the previous day with declines in most import and export indices.