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Banking crisis now 'key driver' of falling oil price as emotions overpower fundamentals - Upstream Online

Upstream Online · last updated

Banking crisis now 'key driver' of falling oil price as emotions overpower fundamentals | Upstream Online

Fears around an escalating banking crisis have driven the price of oil down for the third week in succession with emotion rather than fundamentals presently exerting the greatest influence on the market, experts have warned.

Concerns around the health of the banking system have created ripples in the oil price since Silicon Valley Bank collapsed in March.

Issues for Signature Bank and rescue deals for UBS and First Republic Bank have continued to impact the world’s most watched number.

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