Oil prices slipped on Tuesday, extending the previous day's slide, as the collapse of Silicon Valley Bank startled equities markets and raised worries about a fresh financial crisis.
Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019.
Agustin Marcarian/File PhotoComing up: API data on U.S. stockpiles at 4:30 p.m. ETSilicon Valley BankBrent crude futures fell 9 cents to $80.68 a barrel by 0101 GMT. U.S. West Texas Intermediate crude futures dropped 16 cents to $74.64 a barrel. On Monday Brent fell to its lowest since early January, while WTI dropped to its lowest since December.triggered concerns about risks to other banks resulting from the U.S. Federal Reserve's sharp interest rate hikes over the last year.
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JPMorgan, PNC among suitors for SVB Financial in deal excluding SVB Bank - AxiosJPMorgan Chase & Co and PNC Financial Service Group Inc are among those in talks about acquiring SVB Financial Group in a deal that would exclude its commercial banking unit Silicon Valley Bank that is currently under U.S. control, Axios reported on Monday citing sources.
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SVB collapse: The Treasury must make whole SVB investorsThe Treasury Department is right to ensure that investors at Silicon Valley Bank have access to their deposits.
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Silicon Valley Bank collapse: How SVB stock price performed in 5 yearsSilicon Valley Bank had been rated as one of the top banks in America for five years before its closure by U.S. regulators in March 2023.
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Silicon Valley exhales after US intervenes in SVB collapseA wave of relief swept over Silicon Valley Sunday following a tense weekend of board meetings, emergency funding plans and pleas for help after regulators stepped in to backstop the region’s embattled namesake bank.
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Silicon Valley Firms Expect Changes in Financial Methods After SVB DisasterStartups and venture investors voice relief at federal decision to protect Silicon Valley Bank depositors, but see need for new banking practices
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Silicon Valley Bank Collapse: US Moves to Protect Deposits, HSBC to Buy SVB's UK SubsidiaryGovernments in the U.S. and Britain are taking extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank.
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