Thu, 2023-03-23 11:47
RIYADH: Oil prices fell on Thursday following three sessions of gains, after Federal Reserve Chair Jerome Powell highlighted banking sector credit risks for the world’s largest economy, while US crude stocks rose more than expected.
Brent crude futures had fallen 42 cents, or 0.55 percent, to $76.27 a barrel at 11.00 a.m. Saudi time, while US West Texas Intermediate crude dropped 50 cents, or 0.71 percent, to $70.40.
Both crude benchmarks settled on Wednesday at their highest closes since March 14 after the dollar slid to a six-week low.
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