The decline of the banking sector crisis leads to the increase of oil prices.

Oil prices rose during trading on Monday, with easing concerns about turmoil in the banking sector.
Brent crude futures rose 1.6 percent to $76.24 a barrel by 14:00 GMT. The price of US West Texas Intermediate crude was $70.55 a barrel, up 1.9 percent.
Brent rose 2.8 percent last week, while WTI rose 3.8 percent after banking sector turmoil subsided.
Tony Sycamore, market analyst at IG, said, according to Reuters, that the rise in oil prices is a comfortable recovery and part of a correction after a 16 percent drop in the past two weeks.
Prices also rebounded after Russian President Vladimir Putin said he would deploy tactical nuclear weapons in neighboring Belarus, escalating geopolitical tensions in Europe over Ukraine.
Russian Deputy Prime Minister Alexander Novak said on Friday that Moscow is very close to achieving its goal of reducing crude production by 500 thousand barrels per day to about 9.5 million barrels per day.
Data from industry sources and Reuters accounts showed on Friday that Russia plans to reduce refinery operations in April, allowing it to maintain crude oil exports while adhering to previously announced production cuts.
Looking at crude oil, Russian oil product exports have been hit hardest by far by the recent EU embargo, with tons of diesel on board ships waiting for buyers.
Meanwhile, shipments of diesel and gasoil that Russia exports to Brazil, Turkey and Africa are set to hit new record highs in March as traders tap into new markets following the European Union’s ban on Russian oil products, according to Refinitiv traders and data.
A full EU embargo on Russian oil products went into effect on February 5, sending Russian diesel shipments to Africa, Asia and the Middle East instead of Europe.
According to Refinitiv data, shipments of diesel and gasoil from Russia’s Baltic and Black Sea ports to Turkey already exceeded 1.2 million tons in March, surpassing last month’s figure of 0.8 million tons.
The figures showed that Russia’s Baltic ports exported at least 300,000 tons of diesel to Brazil this month, more than the 205,000 tons registered in the whole month of February.
Market sources added that Russia has also boosted diesel supplies to African countries. “It seems that Africa will get large quantities (of Russian diesel),” said one trader.
According to Refinitiv data for March, about 200,000 tons of diesel were shipped from Russian-controlled ports to Libya, about 165,000 tons to Algeria, and 100,000 tons to Tunisia. Other importers include Nigeria, Ghana, Senegal and Morocco.
The data showed that a shipment of 200,000 tons of diesel from Russia is scheduled to arrive in Fujairah in the UAE this month.
Last month, Russia sent at least 450,000 tonnes of diesel to Saudi Arabia, including some ship-to-ship shipments near the port of Kalamata, although no such shipments were recorded on this shipping route so far in March.