More Banking Trouble Pushes Oil Prices Down Another 2% ...Middle East

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More Banking Trouble Pushes Oil Prices Down Another 2%
source : OILPRICE ( Middle East ) () 28
West Texas Intermediate futures for June delivery closed out at $77.07 per barrel on NYMEX—the lowest front-month finish in nearly a month. WTI sank $1.69 per barrel, or just over 2%, on Tuesday afternoon as recession fears reinforced doubts about what that means for crude oil demand. The Brent front-month contract was also down by more than 2% (-$1.96 per barrel), ending the trading day at $80.77 per barrel. Prices had been trading up earlier in the week after a poor showing last week, but sank as yet another bank—First Republic—created…

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