3/14, 11:22 AM (Source: TeleTrader)
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Oil extends losses, WTI down over 2.5%

The prices of oil continued to tumble on Tuesday as the latest events taking place in the United States banking sector revived fears over the crude demand outlook.

Investors are seemingly concerned that the financial crisis might spill over to a wider range of sectors, which, in turn, could bring about the collapse of the biggest economy in the world.

West Texas Intermediate (WTI) for settlements in April plummeted 2.63%, to sell at $72.83 per barrel at 6:11 am ET. Brent for deliveries in May plunged 2.20%, to go for $78.99 per barrel a minute later.

Baha Breaking News (BBN) / AY