Oil futures struggled to start on a positive note on Friday’s opening despite positive indications that supply is slowly tightening. A selloff between markets eventually weighed on crude prices causing them to fall to the red zone. Global investors voted with their feet signalling heightened concerns regarding the controversies surrounding U.S. President Donald Trump.
U.S. West Texas intermediate (WTI) crude prices dropped more than 0.2 percent or 2 cents to finish at $47.02 per barrel. Global benchmark for oil Brent crude prices was also 0.2 percent down or 10 cents to settle at $50.93 per barrel on the day.
The digital currency, bitcoin, is close to entering the “world of high finance” as it improved transaction security and efficiency.
Last Monday, Japanese financial company, Fisco, released a statement suggesting than it would begin experimenting on the first bitcoin-backed bank in the country.
The news was later followed by other announcements for bitcoin options and futures in the United States.
The bitcoin has gone a long way since it was launched in the year 2009. Recent months indicated a sharp rise. In fact, the price of the cryptocurrency quadrupled in 2017 as it touched a record high of $4,500 on the previous day. It also reached a total value of $74 billion.