Brent crude futures were up 60 cents to $74.29 per barrel as of 0742 GMT, while U.S. West Texas Intermediate crude futures rose 47 cents to $68.08
Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators.
On Wednesday, the third straight day of declines, U.S. crude fell below $70 a barrel for the first time since Dec. 20, 2021.“Considering is really macro-driven rather than oil fundamentals-driven, WTI could flirt with the idea of bottoming out at $60. But I don’t really see a full-blown collapse,” said Viktor Katona, lead crude analyst at data analytics firm Kpler.
OPEC’s rosier outlook for China oil demand also supported oil prices, said Lim Tai An, analyst at Phillip Nova Pte.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse sign of ‘financial crisis 2.0,’ BTC will drop to $13k before rally - Gareth SolowayGareth Soloway, Chief Market Strategist at InTheMoneyStocks.com and President of VerifiedInvestingEducation.com, joins Michelle Makori, Lead Anchor and Edito...
Read more »
Credit Suisse unease sparks selloff in world stocksRenewed unease gripped world markets on Wednesday as news that Credit Suisse\u0027s largest investor said it could not provide the bank with more financial assistance.
Read more »
Credit Suisse unease sparks selloff in world stocksRenewed unease gripped world markets on Wednesday as news that Credit Suisse\u0027s largest investor said it could not provide the bank with more financial assistance.
Read more »
Investors take to gold as Credit Suisse reignites banking fears, gold price at 1.5-month highs
Read more »
Toronto stocks join global selloff as Credit Suisse sparks concernsCanada\u0027s resources\u002Dheavy main stock index the TSX fell on Wednesday, dragged by energy and financial stocks. Find out more.
Read more »
Toronto stocks join global selloff as Credit Suisse sparks concernsCanada\u0027s resources\u002Dheavy main stock index the TSX fell on Wednesday, dragged by energy and financial stocks. Find out more.
Read more »