Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators.
But, battered by fears of growing stress on banks worldwide, market sentiment remained fragile with both benchmarks giving up some early Thursday gains that saw Brent climb by more than $1.
As of 0742 GMT, Brent crude futures were up 60 cents or 0.8 percent to $74.29 per barrel. West Texas Intermediate crude futures (WTI) rose 47 cents or 0.7 percent to $68.08 a barrel.
On Wednesday, the third straight day of declines, U.S. crude fell below $70 a barrel for the first time since Dec. 20, 2021….