Oil prices fell on Thursday amid concerns surrounding the US banking sector and worry over lower oil demand.
International benchmark Brent crude traded at $76.27 per barrel at 10.14 a.m. local time (0714GMT), a 0.55% decrease from the closing price of $76.69 a barrel in the previous trading session.
At the same time, American benchmark West Texas Intermediate (WTI) traded at $70.45 per barrel, a 0.63% fall after the previous session closed at $70.9 a barrel.
The US Federal Reserve raised its benchmark interest rate Wednesday by another 25 basis points despite a banking crisis, which saw the sudden demise of four banks in a matter of weeks.— AA
