CEX.IO company blog | Results of the week (March 1 - March 8): Bitcoin and Ethereum have stabilized, oil has reached $70 per barrel

Alexander Yanyuk, CEX.IO Broker finance expert comments:

Brent oil price reacted positively tonews about continued restrictions on oil productionOPEC+ countries, and by the end of trading on Friday, the price of North Sea oil consolidated above $69 per barrel. On Monday, March 8, it became known about a drone attack on the largest oil port in Saudi Arabia. In connection with this news, oil quotes reached $70, however, a technical correction from this level was subsequently observed and by the end of Monday Brent was trading at $68.41, having lost 1.37% from the opening price of the day.

Gold headed towards $1,650 per troy ounce and by the end of trading on March 8 it was at $1,677.

Compared to most major currencies, the RussianThe ruble looked quite stable, ending trading on Friday at 74.22. The value of the euro against the ruble fixed at 88.51. The further dynamics of the EUR/RUB pair will depend not only on the strength of the ruble against the US dollar, but also on the position of the euro against the US dollar.

Most crypto assets have stabilized inranges. The Bitcoin rate increased from $46,887 to $50,789 (+8.32%), while Ethereum quotes over the same period added 19.20% and rose from $1,458 to $1,738. The BTC/RUB pair, according to the CEX exchange .IO, on March 8 was trading at 3,793,809, demonstrating an increase of just over 300,000 rubles.

Dynamics of assets for the period March 1 - 8:

- Oil rose from $ 64.85 to $ 68.41 (+ 5.48%)
— Gold decreased from $1,732 to $1,677 (-3.17%)
— The USD/RUB pair fell from 74.61 to 74.22 (-0.52%)
— The EUR/RUB pair fell from 90.09 to 88.51 (-1.75%)
— Bitcoin rose from $46,887 to $50,789 (+8.32%)
— Ethereum rose from $1,458 to $1,738 (+19.20%)