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https://www.wsj.com/articles/bank-fears-rattle-oil-markets-poised-for-chinese-boom-dbaa77cd

Bank Fears Rattle Oil Markets Poised for Chinese Boom

Financial-sector stress complicates Wall Street’s outlook for crude

Silicon Valley Bank’s swift collapse prompted regulators to implement a series of emergency measures to stem the fallout and shore up confidence in the banking system. WSJ’s Gunjan Banerji explains how the week unfolded. Illustration: Jacob Reynolds

By David Uberti

March 21, 2023 5:30 am ET

Wall Street’s outlook for oil this year is suddenly looking a bit less bright.

Crude prices dropped to 15-month lows after strains in the U.S. banking system sent tremors throughout financial markets and intensified fears of a broader economic slowdown. Those worries have hit prices just as energy-hungry China has finally shown signs of revving up from strict pandemic lockdowns.

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