3/27, 1:20 PM (Source: TeleTrader)
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Oil gains 1% with banking sector concerns easing

Crude oil prices were on the rise on Monday as fears of a banking crisis waned somewhat. First Citizens Bank has agreed to buy the failed Silicon Valley Bank, prompting a positive response from Wall Street and sending Treasury yields higher.

West Texas Intermediate (WTI) for settlements in May grew by 1.05% to $70.04 per barrel at 7:09 am ET. Brent for deliveries in the same month increased by 1.03% to $75.78 per barrel a minute later.

Baha Breaking News (BBN) / DJ