Oil Has Dropped Sharply. Its Next Move Will Be Key.
newscatcher
2023-03-28 22:35
Oil Has Dropped Sharply. Its Next Move Will Be Key.
Updated March 28, 2023 5:57 pm ET / Original March 29, 2023 1:45 am ET Order Reprints Print Article Ian Tuttle/Bloomberg The price of oil has dropped significantly, and now faces a technical crossroads. Crude's next move will be key for investors in both oil contracts and oil stocks.  WTI crude oil has fallen 9% to about $72 a barrel from its level just before the banking sector's troubles emerged earlier this month. Those issues have stoked fears that lending, and therefore spending, will slow down, which would decrease demand for oil.

https://www.barrons.com/articles/crude-oil-price-stocks-8a4409c0

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