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

The drop in oil prices followed more troubling global financial news as UBS bought out Credit Suisse.
A sign and logo of Credit Suisse bank is seen beneath a sign of Swiss bank UBS, Zurich, Switzerland, March 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)
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Adam Lucente
@Adam_Lucente

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. 

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