New York, Apr 26 (EFE).- The price of Texas intermediate oil (WTI) started this Wednesday with a drop of 0.71%, to $76.52 a barrel, with investors worried about a possible recession and new banking storm after the falls in shares of First Republic Bank.
At 9:00 a.m. local time (1:00 p.m. GMT), WTI futures contracts for June delivery were down $0.55 from the previous day’s close.
Benchmark US oil opened lower for the second day in a row today.
Analyst Tom Essaye pointed out today that the drop in oil futures responded both to “renewed banking fears” and “to the not very encouraging data on consumer confidence in the United States.”
American confidence worsened in April, with consumers becoming more pessimistic about the job market.
The Consumer Confidence Index, which measures confidence in the economy and the labor market, fell to 101.3 in April, from 104 in March. Which is its lowest level since July 2022.
