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Oil prices rebound after hitting lowest since 2021 on banking fears

Oil prices rebound after hitting lowest since 2021 on banking fears

Oil prices rebounded by over 1% on Monday after hitting their lowest levels in 15 months due to concerns over risks in the global banking sector that could lead to a recession and decrease fuel demand. The rebound was influenced by gains in Wall Street and central banks' pledge to support market liquidity and other banks.