Oil prices were lower today, falling to the lowest this month after two sessions of gains. US consumer confidence dropped to a nine-month low in April. FRC reported earnings today re sparking fears in the banking sector as the regional bank reported a flight in deposits in excess of more than $100 billion. “Oil prices looked as if they were going to mount a rally before old banking worries reemerged,” said Phil Flynn, an analyst at Price Futures Group. Investors remained wary that possible interest rate hikes by inflation-fighting central banks could slow economic growth and dent energy demand in the United States, Britain, and the European Union. WTI traded down $1.69 or 2.2% to close at $77.07. Brent traded down $1.96 or -2.4% to close at $80.77.

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