KONTAN.CO.ID - NEW YORK. Oil prices fell in volatile trading on Monday as the collapse of Silicon Valley Bank hit equities markets and raised fears of a fresh financial crisis, but a recovery in Chinese demand provided support. Brent crude futures were down 76 cents, or 0.9%, to $82.02 per barrel by 11:51 a.m. EDT (1551 GMT). The global benchmark earlier fell to a session low of $78.34, its lowest since early January. U.S. West Texas Intermediate crude futures (WTI) fell 75 cents, or 1%, to $75.93 a barrel. WTI earlier dropped to $72.30 a barrel, its lowest since December.
Oil Prices Fall in Choppy Trade as Banking fears Rattle Markets
KONTAN.CO.ID - NEW YORK. Oil prices fell in volatile trading on Monday as the collapse of Silicon Valley Bank hit equities markets and raised fears of a fresh financial crisis, but a recovery in Chinese demand provided support. Brent crude futures were down 76 cents, or 0.9%, to $82.02 per barrel by 11:51 a.m. EDT (1551 GMT). The global benchmark earlier fell to a session low of $78.34, its lowest since early January. U.S. West Texas Intermediate crude futures (WTI) fell 75 cents, or 1%, to $75.93 a barrel. WTI earlier dropped to $72.30 a barrel, its lowest since December.