Oil prices rose more than 2% on Tuesday, 21, after hitting a 15-month low the day before, as the rescue of Credit Suisse allayed concerns of a banking crisis that would hurt economic growth and cut fuel demand. Measures to stabilize the banking sector, including UBS’ takeover of Credit Suisse and pledges from major central banks to boost liquidity, have calmed fears about the financial system that roiled markets last week.
Source: Nova Cana (*Translated by Ia Niani)