Monetary tightening leads to a major banking crisis

In this week’s Macro & Oil report of the EnergyScan podcast, Olivier Gasnier tells us about the Silicon Valley Bank debacle and its repercussions on the American financial system. He also explains how this has affected Europe and details the recent Credit Suisse buyout by UBS and its consequences. The oil market is a collateral victim of the banking crisis. The question remains of whether Central Banks will choose to continue raising rates to combat inflation in the face of recession and financial crisis.