REUTERS/Donna Carson
- Banking chaos is weighing on oil prices, as crude benchmarks hit their lowest levels since December 2021.
- Fed policy and US and European bank turmoil have darkened the global economic outlook in the last week.
- Brent crude has dropped roughly 10% since regulators shut down Silicon Valley Bank.
Turmoil across the global banking system is dragging on oil prices, with both major crude benchmarks on Wednesday hitting their lowest levels since December 2021, before paring some losses Thursday.