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Crude oil markets have done very little during the trading session on Thursday, but after the beating that the market has taken over the last couple of days, that's still a negative sign.
Oil prices were boosted by OPEC and IEA's forecasts of an increase in oil demand in 2023 due to China's economic reopening and increased air travel.
Bob Iaccino, Path Trading Partners Co-Founder and Chief Market Strategist, joins Yahoo Finance Live to discuss current oil prices and how low they could go.
Oil prices logged their biggest single-day drop in eight months on Wednesday, as economists warn turmoil in the banking system could become widespread.

U.S. Crude Slips Below $70 a Barrel

02:11pm, Wednesday, 15'th Mar 2023
Oil prices fell to 15-month lows amid fears that the banking-sector turmoil signals broader challenges for the economy.

Oil Falls Below $70 for the First Time Since 2021

11:19am, Wednesday, 15'th Mar 2023
Oil has been accumulating in storage tanks as supply has been strong and demand has remained slack, the IEA reported.
Crude oil markets have broken down rather significantly during the trading session on Wednesday, as fears of a major global recession have hit the markets.

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Yahoo Finance Live's Jared Blikre and Julie Hyman break down the decline in oil and energy stocks.
Oil traders have mostly ignored EIA data amid a strong sell-off triggered by the potential banking crisis in Europe.
Oil futures remained sharply lower Wednesday after the Energy Information Administration said U.S. crude inventories rose by 1.6 million barrels last week. Crude had tumbled sharply as a continued rou
Oil prices rose in early Asia trade on Wednesday, recovering from the previous day's plunge, as a stronger OPEC outlook on China's demand helped offset bearish global investor sentiment in the wake of
Oil traders are worried that U.S. regional banks' problems may have a negative impact on demand for oil.
Crude oil markets have fallen a bit during the trading session on Thursday but turned around to show support at the bottom of the range that we have been stuck in for ages.
Oil futures fell Tuesday, extending the previous session's decline after the collapse of California's Silicon Valley Bank on Friday stirred worries of a U.S. regional banking crisis and a potential hi
Meanwhile, colder weather provided support to natural gas prices.
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