Oil prices fall, Saudi National Bank loses $1 billion over Credit Suisse

Adam Lucente

Mar 20, 2023

A sign and logo of Credit Suisse bank is seen beneath a sign of Swiss bank UBS, Zurich, Switzerland, March 20, 2023. — Fabrice Coffrini/AFP via Getty Images)

Oil prices fell to another multiyear low on Monday following more troubling financial news.

The price of Brent crude oil, considered the benchmark for global oil prices, fell to $70.12 a barrel — the lowest price since early December 2021, according to market data.