Baghdad Oil prices fell by more than $5 a barrel at the close of trading today, Wednesday, to their lowest levels in more than a year.

Brent crude fell $3.76, 4.9%, and settled at $73.69 a barrel.

US West Texas Intermediate crude also fell $3.72, 5.2%, to $67.61 at settlement.

The two benchmarks lost more than 4% yesterday, Tuesday, and recorded their lowest levels in 3 months, under pressure from fears that the collapse of Silicon Valley Bank and another US bank would lead to a financial crisis that would affect fuel demand./ End

Source: National Iraqi News Agency