Oil extends fall after California’s SVB collapse raised fears about economic growth

Oil futures fell Tuesday, extending the previous session’s decline after the collapse of California’s Silicon Valley Bank on Friday stirred worries of a U.S. regional banking crisis and a potential hit to economic growth.

Price action

Market drivers

Crude fell sharply Monday, while equities saw a choppy session that saw major U.S. indexes end mostly lower. Oil was extending its decline Tuesday as stock-index futures pointed to a bounce for Wall Street.

“Looking…