Oil futures traded lower Thursday, unable to shake recession worries after the U.S. benchmark closed below $70 a barrel for the first time since December 2021.
Price action
Market drivers
Crude prices gave up a modest bounce seen after troubled lender Credit Suisse said it would tap a $54 billion lifeline from the Swiss National Bank and launch a bid to buyback debt. Worries over Credit Suisse sent another round of shock waves through financial markets already shaken by U.S. regional banking woes.
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