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Today’s Update on Oil and Bitcoin Price

Oil price jumps 4% on a cocktail of risk-on trades and Memorial Day bets while the price of bitcoin popped about 4% Monday afternoon.

WTI- P- $61.67 (+4.8) BRENT- P- $64.81 (+3.76)
A- $66.07 A- $68.57

The American Automobile Association expects as many as 37 million road travelers on this Memorial Day, up 60% from last year’s pandemic-suppressed 23 million travelers.

“The Goldman forecast, of course, is being used tirelessly to advance the case for $80 oil, though we still need to see global travel open up completely to justify that. And the Iran talks will continue, and the additional they put on the market will matter, regardless of what the skeptics think. So, I think we’ll give back some of these gains over the coming days as we see progress on those talks again.”

Goldman Sachs said its forecast for $80 Brent later this summer included a potential increase in Iranian oil exports.

P: $ 33,810.7
A: $ 38,706.2 +4895.5 +14.48%

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Bitcoin Update

Elon Musk says he talked to ‘North American Bitcoin miners,’ sending bitcoin price surging.


The price of bitcoin popped about 4% Monday afternoon after Tesla CEO Elon Musk tweeted that he was having active discussions regarding the sustainability of the digital coin.

Musk’s tweets and comments around cryptocurrency often send the prices soaring or plunging.

The price of bitcoin jumped about 4% Monday afternoon after Tesla CEO Elon Musk tweeted that he was having active discussions regarding the sustainability of the digital coin.

Bitcoin was trading around $38,074, according to Coindesk, when at about 3:42 p.m. ET Musk posted on Twitter:

“Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.”

Within minutes, the price had shot up to more than $39,500. Overall, the coin is up more than 17% in the last 24 hours.



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