3/20, 7:37 AM (Source: TeleTrader)
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Oil declines 1% on demand concerns

Prices of oil futures decreased on Monday as markets remain affected by worries caused by banking sector instability and the potential of a spillover to other parts of the economy. A weakening in economic activity could also result in a further drop in energy demand and oil prices that last week landed at the lowest levels since late 2021.

West Texas Intermediate (WTI) for settlements in April declined 1.69% to $65.61 per barrel at 2:10 am ET. Brent for deliveries in May was down 1.92% to $71.59 per barrel at 2:28 am ET.

Baha Breaking News (BBN) / MS