Oil mixed over growing global economic growth uncertainties

Oil prices were mixed on Tuesday as negative global economic growth forecasts raised demand concerns, while a buyout deal of the defunct Silicon Valley Bank (SVB) allayed investor concerns about the United States banking system.

International benchmark Brent crude traded at $77.65 per barrel at 09:57 a.m. local time (0657 GMT), a 0.14 percent decrease from the closing price of $77.76 a barrel in the previous trading session. At the same time, American benchmark West Texas Intermediate (WTI) traded at $72.95 per barrel, a 0.19 percent rise after the previous session closed at $72.81 a barrel. Investors are still focused on the ongoing financial crisis in the US and the trajectory of the Chinese economy and oil demand outlook.

The World Bank said Monday that it expects global eco-