Oil fell slightly on Monday.
By the results of trades on March 13th, the value of the May contract for Brent crude on the ICE Futures exchange in London fell by $ 0.02 (0.04%) to $ 51.35 per barrel.
April futures on WTI on New York Mercantile Exchange NYMEX fell by $ 0.09 (0.2%) – to $ 48.40 a barrel.
Today, oil is still trying to grow in price.
May futures for Brent crude oil on London Stock Exchange added $ 0.05 (0.1%) to $ 51.40 per barrel.
Quotations of the April contract for WTI oil increased by $ 0.04 (0.08%) – to $ 48.44 per barrel.
Return of bitcoin
The crypto-currency lost more than 16% after the markets closed on Friday, reaching $ 978, after the Securities and Exchange Commission did not approve the Stock Exchange Bitcoin Fund of the Winklevoss twins.
However, today bitcoin has returned to $ 1.231, adding 26% from the lows. The record high for the currency is $ 1.327.
The year 2017 has been volatile for bitcoin. In the first week of the year, the crypto-currency added 20%, before falling by 35%, due to fears that China would tighten restrictions on trade.
However, after it became known that the Chinese stock exchanges began charging a commission of 0.2% per transaction, the crypto-currency “calmed down” and added more than 30% over the past month, reaching a maximum of $ 1,237 on Friday.
The Securities and Exchange Commission will issue its verdict regarding Solidco Management bitcoin fund on March 30th, and later – on Grayscale Investments.
In 2016, bitcoin added 120%, showing the best dynamics among currencies in the last 2 years. Since the beginning of the year, the currency has added 10%, despite Friday sell-off.
Shares do not welcome oil drop below $ 50
This chart illustrates the relationship between the prices of WTI and the stock market.
The shares did not welcome the decline in oil. Yesterday, prices fell for a short time below the psychologically important level of $ 50 per barrel, and S&P 500 rolled back.
Apparently, traders do not want to see anything that would contradict the notion of the economy gaining momentum and global growth.
Since August, the correlation between oil prices and stocks has been mostly positive, and since the election day, there has been no negative correlation: