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Oil Tumbles as SVB Failure Sends Investors Fleeing From Risk

Oil tumbled, driven by the biggest US bank collapse since 2008, with Brent crude dropping below $80 for first time in over a month. Oil has swung this year as interest rates rise, China recovers.

1 min read
  • Oil tumbled, driven by the biggest US bank collapse since 2008, with Brent crude dropping below $80 for first time in over a month.
  • The collapse of Silicon Valley Bank roiled markets as traders try to assess how the reverberations will affect the economy.
  • Oil has swung this year as interest rates rise, China recovers.
Oil Tumbles as SVB Failure Sends Investors Fleeing From Risk
Oil tumbled, shaken by the biggest US bank collapse since 2008 as investors fled from risk assets and sought shelter in government bonds and gold.
BloombergImmanual John Milton

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