Oil prices decreased on Monday, but managed to notch a gain for the week.
The West Texas Intermediate (WTI) for May delivery dropped 70 cents, or 1 percent, to settle at 69.26 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery lost 92 cents, or 1.21 percent, to close at 74.99 dollars a barrel on the London ICE Futures Exchange.
The decline came as traders continued to focus on the banking industry.
Shares of Deutsche Bank were under considerable pressure after a spike in the cost of insuring against its default. It reignited concerns over the health of the U.S. and European banking sectors.—APP
