Oil price rise after a huge Draw in Crude Inventories

The American Petroleum Institute (API) reported a 5.222 million barrel decrease in the United States crude oil inventories this week. Analysts were expecting a smaller decrease of 3.518 million barrels. Last week the API reported a decrease of 7.385 million barrels of crude oil but later toned down the enthusiasm by counting a build-up of 2.334 million barrels of gasoline.

The black gold was traded in the green zone. WTI rose by 0.40% closing at $57.47 per barrel; Brent Crude climbed up by 0.54% towards $63.25 per barrel.

Bitcoin drops by more than 12% as the market supports Bitcoin Cash

Coinbase, the leading platform for buying and selling bitcoin in the United States, can now buy and sell bitcoin cash. Bitcoin cash split off from the original bitcoin on August 1 after a group of developers decided it was time to improve bitcoin transactions. They failed to reach an agreement with the original bitcoin founders this fall and so chose an independent path.

Bitcoin cash surged by more than 60 percent on Tuesday evening and was being sold at all-time highs near $3,540 while the original Bitcoin was down by more than 12 percent to end the sessions at $16,484 according to Coinbase.

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