TELETRADER News
3/15, 6:16 PM
(Source: TeleTrader)
Brent Crude (...+2.80%
F WBS+2.57%
WTI down 7.5% on economic concerns
Prices of oil futures dropped further on Wednesday as fears over the financial sector's issues spilling over to the wider economy and other markets intensified. In addition, the latest data from the United States showed an increase in oil inventories, seemingly causing oversupply concerns.
West Texas Intermediate (WTI) for settlements in April declined 7.64% to $65.90 per barrel at 1:04 pm ET. Brent for deliveries in May was down 7.17% to $71.94 per barrel at the same time.
Both dropped to levels not seen since December 2021.