Oil Regains Some Ground After Credit Suisse Handed a Lifeline

Oil Regains Some Ground After Credit Suisse Handed a Lifeline
A general view shows the oil refinery of the Lukoil company in Volgograd, Russia, on April 22, 2022. Reuters Photographer/Reuters
Reuters
Updated:

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.