Banking Crisis Has Triggered Capital Flight From Oil To Gold

The sudden collapse of Silicon Valley Bank has sent shockwaves through the entire financial sector and marked the biggest bank failure since the 2008 financial crisis. Being the only publicly traded bank focused on Silicon Valley and startups for four decades, the swift collapse has particularly rattled the venture capital community and left climate tech startups in a crisis.  But the energy markets have not been spared, with oil prices crashing to multi-year lows following the ensuing banking crisis. Oil prices crashed…