Fundamentals point to higher oil prices

[dan_s]

Brexit caused a spike in the U.S. dollar, which you can see here: http://www.marketwatch.com/investing/index/dxy/charts

Oil trades globally in U.S. dollars, so when the USD goes up the price of oil goes down.

Long-term however supply/demand fundaments determine commodity prices. See article below.
http://www.businessinsider.com/oil-pric ... ing-2016-6