Oil Regains Some Ground After Credit Suisse Lifeline
Reuters
Mar 16, 2023, 06:59 PM
Oil prices clawed back some ground on Thursday, recovering from the previous session's 15-month lows, as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators.
But market sentiment remained fragile, battered by fears of growing stress on banks worldwide, and both the main crude benchmarks gave up some of Thursday's early gains.
Brent crude futures were up 54 cents, or 0.7%, at $74.23 a barrel by 1105 GMT. West Texas Intermediate crude futures (WTI) rose 43 cents, or 0.6%, to $68.04.
On Wednesday, the third straight day of declines, U.S. crude fell below $70 a barrel for the first time since Dec. 20, 2021.
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