Oil prices some its strength compared to the rally recorded in the previous trading sessions as analyst warned about declining correction. Nevertheless, oil is still stands on a firm ground due to OPEC's tightening supply and strong global demand
Brent Crude futures were being trading at $69.23 per barrel, 8 cents higher than the previous close but a few pips lower compared to the record high of $69.37 earlier in the day. U.S. West Texas intermediate crude was last seen trading at $63.84 per barrel, which is down from a high of $63.89 recorded earlier in the session. The benchmark went higher by 11 cents from their last close.
Cryptocurrencies experienced a $200 wipe off on their global value at the peak of the recent sell-off. The total market value of all digital currencies stood at $653.8 billion in London according to data that was released by the CoinMarketCap, which is a website that tracks the performances of different cryptocurrencies.
Bitcoin might be heading for a downward slope as in the previous week South Korea’s Justice minister said that his ministry was preparing a bill that would ban cryptocurrency trading in the country. It is still unknown whether South Korea will be able to significantly affect the digital currency market. Still, investors are a little concerned about South Korea's policy regarding digital currencies.