Oil prices managed to stabilize on Thursday, recovering from their lowest levels since late 2021 earlier this week, as encouraging U.S. employment data balanced out negative indicators from Federal Reserve Chair Jerome Powell, who underscored risks in the banking sector and rising U.S. crude inventories.
As of 9:15 CST, Brent Crude sat at $76.96 per barrel, while U.S. West Texas Intermediate Crude rose to $71.14. On Wednesday, Powell warned the banking blip could lead to a credit crunch, which could have "significant" repercussions…U.S. Jobs Data Provides Support For Oil After Volatile Week
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