Oil Prices Head Lower As Credit Suisse Shares Plunge By 60% ...Middle East

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Oil Prices Head Lower As Credit Suisse Shares Plunge By 60%
source : OILPRICE ( Middle East ) () 43
The selloff in oil continues on Monday, with Brent falling to the $72 a barrel mark and U.S. crude down to the $65 per barrel handle, as traders are cutting long positions amid the banking sector turmoil of the past week. The market rout saw Credit Suisse’s stock plummet by 60% on Monday in Europe after the announced takeover by UBS. As of 8:26 a.m. ET on Monday, the U.S. oil benchmark WTI Crude was down by 1.15% at $65.95, and Brent Crude, the international benchmark, was falling by 1.08% at $72.09. During the weekend, UBS said it plans…

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