West Texas Intermediate crude fell below $70 a barrel in New York for the first time since late 2021 as investors remain on edge after last week’s bank failures.
Futures for April delivery slid as much as 2.2% to $69.76 a barrel, the lowest since Dec. 20, 2021.
Prices recovered to around $70.15 a barrel as of 7:12 a.m. local time.