New York March 20 2023: Oil prices fell on Monday for a second session on concerns that risks in the global banking sector may cause a recession that would lead fuel demand to decline and ahead of a potential interest rate hike by the U.S. Federal Reserve this week.
Brent crude futures for Apr settlement slid $ 1.47, or 2.01%, to $71.50 a barrel at 0546 GMT after a near 12% loss last week, its biggest weekly fall since December.
U.S. West Texas Intermediate crude for Apr delivery was at $65.32 a barrel, down $ 1.42 , or 2.13%, after a 13% decline last week, its biggest weekly drop since last April.
