TELETRADER News
3/20, 7:37 AM
(Source: TeleTrader)
Brent Crude (...-0.34%
F WBS-0.35%
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.