US oil benchmarks fall to 14-month lows as recession fears grow

Photo of author

Oil futures extended bearishness on Wednesday, with the US benchmark falling below the $70 level and hitting its lowest level since December 2021 on fears of a recession fueled by the banking crisis.

Investors were also awaiting official US crude data after industry data said oil stocks rose but gasoline and distillate levels fell.

price action


See also  Nvidia is less than $10 billion away from passing Berkshire as the market's 5th largest stock