Oil Falls Again As Traders Remain Concerned About U.S. Banks
Oil markets continued to be disrupted by the failure of Silicon Valley Bank and Signature Bank over the weekend, with oil prices losing nearly 3% just shy of the closing bell on Monday. On Monday at 3:36 p.m. EST, Brent crude was trading down 2.96% at $80.33, for a loss of $2.45 on the day. WTI was trading down 2.99% at $74.39, for a loss of $2.29 on the day. SVB, the go-to lender for tech startups backed by venture capitalists, failed dramatically on Friday, with shares plunging 60% before the SEC halted trading. Investors were spooked last…
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