Daily News | Oil prices went down

The very first news we’ll begin our news reports with this week is the fall of oil prices. Oil prices went down on Monday, as a barrel of Brent crude fell by 25 cents (0.4 percent) and its price is now $63.15. U.S. West Texas Intermediate crude futures CLc1 were down by 22 cents (also 0.4 percent). However, the number of active rigs in the US  is rising – there are now 751 of them, the most in over two months. That means that U.S. production of crude oil is going wild – up by 15 percent in the last year and a half. U.S. produces now 9.71 million barrels per day and it’s close to the Russian and Saudi level of oil production. Investors think that U.S. could jeopardize the OPEC and Russian agreement, which is why oil prices went down. If you trade oil futures, you should definitely keep your eye on the situation.

The second piece of news today has to do with bitcoin once again. Bitcoin has been rising lately and now it’s at $16,431.76. As you maybe already know, there’s a big debate over bitcoin futures contracts. These contracts allow investors to bet on the price of the cryptocurrency in one, two or three months, which will make the cryptocurrency market even more dynamic. Bitcoin futures kicked off trading on Sunday and we expect big volatility here too, so we advise you to try your luck with bitcoin!

As for the other shares and markets, the main European index .MSER – rose 0.1 percent, and the index of leading European companies .STOXX50 gained 0.2 percent. Britain’s FTSE rose 0.6 percent, so we can say this is pretty good outcome for European shares. Besides that, the euro rose 0.1 percent against the greenback and now it’s at $1.1791 EUR. It’s above its three-week low of $1.1739 that reached on Friday, ahead of a European Central Bank policy meeting. As you can see, there are many interesting things happening on various markets, which means there’s definitely something you can find to invest in.

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Author: Max Rothstein

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