Oil prices fell on Wednesday, chalking up their fifth straight daily decline, as global markets slid on worries that Britain might leave the European Union.
Crude futures pared losses after U.S. government data showed a draw in crude stockpiles. They briefly clawed back back more ground after the Federal Reserve declined to raise interest rates before extending losses into U.S. crude's settlement.
U.S. crude's West Texas Intermediate ended Wednesday's session down 48 cents, or 1 percent, at $48.01.
Brent crude futures fell 96 cents, or 1.9 percent, cents at $48.87 a barrel, after trading as low as $48.67 earlier.
U.S. crude stockpiles fell by 933,000 barrels last week, the Energy Information Administration (EIA) said, less than half the 2.3 million-barrel draw anticipated by the market.