Crude oil prices slide $2 as banking fears rattle markets

The collapse of Silicon Valley Bank raised fears of a fresh financial crisis, which sent oil prices tumbling. However, Chinese demand provided support, and prices recovered later in the day. In recent days, a weaker dollar, which makes oil cheaper for holders of other currencies, has lent some support to prices.

Crude oil prices slide $2 as banking fears rattle markets
The collapse of Silicon Valley Bank raised fears of a fresh financial crisis, which sent oil prices tumbling. However, Chinese demand provided support, and prices recovered later in the day. In recent days, a weaker dollar, which makes oil cheaper for holders of other currencies, has lent some support to prices.