Monday, May 20, 2024
HomeStock MarketOil costs fall as SVB collapse raises recession fears

Oil costs fall as SVB collapse raises recession fears


Oil futures fell on Monday because the collapse of Silicon Valley Financial institution over the weekend fueled fears of a possible recession.

SVB collapsed on Friday, whereas New York regulators shut down Signature Financial institution on Sunday. Federal regulators on Sunday determined to bail out financial institution depositors whereas maintaining deposits at different regional banks to stop a change to different establishments.

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