Oil Regains Slight After Falling To 2021 Lows
Date
3/17/2023 4:26:29 AM
(MENAFN- The Peninsula) QNA
SINGAPORE: Oil prices rose in early Asian trade on yesterday, clawing back some ground from more than one-year lows hit in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators.
Brent crude futures rose 85 cents, or 1.2 percent, to $74.54 per barrel.
West Texas Intermediate crude futures (WTI) rose 74 cents, or 1.1 percent, to $68.35 a barrel.
Both benchmarks rose by more than $1 earlier in yesterday's session.
On Wednesday, they hit their lowest levels since December 2021, having fallen for three straight days. Brent has lost nearly 10 percent since Fridays close, while US crude is down about 11 percent.
MENAFN17032023000063011010ID1105800981
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.