Oil futures extended a slump Wednesday, with the U.S. benchmark dipping below the $70 level and touching its lowest intraday level since December 2021 as the fallout from a banking crisis stoked recession fears.
Investors were also awaiting official data on U.S. crude inventories after industry data was said to show a rise in oil stocks but declines in gasoline and distillate levels.
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Source: https://www.marketwatch.com/story/u-s-oil-benchmark-dips-below-70-a-barrel-as-recession-fears-mount-b2c5c903?siteid=yhoof2&yptr=yahoo