Brent drops sharply below $80/b threshold

17.03.2023

Oil prices dropped over 4% to a three-month low on Tuesday after a U.S. inflation report and the recent U.S. bank failures sparked fears of a fresh financial crisis that could reduce future oil demand.

Brent futures fell $3.32, or 4.1%, to settle at $77.45 a barrel, while U.S. West Texas...