![]() ´´This comes amid renewed fears of weakness in the physical market. This has provoked a flight to safety in financial markets, hurting the oil price.Īnalysts at ANZ Bank said financial institutions were dumping crude futures to limit their exposure to falling prices in the options market. 3, 2021 and the largest one-day percentage decline in more than two months on a wave of technical selling.Ĭredit Suisse's 2022 annual report was published on Tuesday and it cited "material weaknesses" in its internal controls over financial reporting, noting that it had not yet stemmed customer outflows. ![]() ![]() US crude prices ended the day down 5.2% at $68.20 a barrel, the lowest closing price since Dec. Institutions were dumping crude futures to limit their exposure to falling prices in the options market.WTI drops hard on technical selling and in risk-off markets.
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