WTI oil remains in red for the third consecutive day and holding near two-week low on Friday, deflated by signals that OPEC+ will announce further production increase in its meeting over the weekend and unexpected rise in US crude inventories. Lower demand as US summer driving season ends, also contributed to weaker nearterm picture- TBC Capital weekly review reads.
As for Bitcoin (BTC), it leads the market in recovery on Friday, breaking above resistance at $113,000 before fast-tracking its pullback below $112,000. Interest in the crypto market has been picking up pace this week as select United States (US) economic data support the need for the Federal Reserve (Fed) to cut interest rates in September.
