On Wednesday, oil futures fell. U.S. prices settled below $70 per barrel for the first time in six weeks. Michael Hewson is the chief analyst at CMC Markets UK. He said that oil prices have continued to fall as “the prospect of an economic slowdown in the United States raises concern over future demand.” The banking crisis will likely trigger a tightening in credit conditions which may also limit economic activity. June West Texas Intermediate crude CLM23 dropped $3.06 or 4.3% to settle at $68,60 a barrel. This was the lowest price for a contract in front-month since March 20.