At the end of last week, oil prices fell. However, they recorded a gain for the week.

Brent crude for delivery in May lost 92 cents, or 1.21%, to close at $74.99 a barrel on the ICE London Stock Exchange. While the West Texas Intermediate (WTI) for delivery in May fell by 70 cents, or 1%, to 69.26 US dollars per barrel on the New York Mercantile Exchange. Deutsche Bank shares have come under considerable pressure after the cost of insurance against default skyrocketed. The barrel of Brent from the North Sea for delivery in May lost 1.21% to $74.99 after dropping as much as 3%.

According to Phil Flynn of Price Futures Group, “banking concerns are back and oil is being hit hard by a flight of risk from hedge funds and banks that are reducing their oil exposures & raquo;.

Par ailleurs, based on the first month's contracts for the week, WTI increased by 3 .5%, while Brent increased by 2.8%.