Oil market extended the firming trend as banking fear subsided
International benchmarks for crude oil continued to gallop higher on Tuesday, 21 March 2023 as confidence in the banking system revived following the rescue of Credit Suisse
International benchmarks for crude oil continued to gallop higher on Tuesday, 21 March 2023 as confidence in the banking system revived following the rescue of Credit Suisse and pledges from the Federal Reserve and the Europe Central Bank to boost liquidity. Fears of a possible economic recession are temporarily allayed.
Brent gained $1.53 or 2.1%to settle at $75.32/barrel.
WTI added $1.69 or 2.5% to settle at $69.33/barrel.