Bitcoin Edges Lower Saturday; WTI Spot at $108.21 as of Oct. 16

Bitcoin edged lower on Saturday, Oct. 17, trading at $81,378.21, down 0.15% from $81,500.04 on Oct. 16, according to FMP data. With futures and exchange-traded funds closed for the weekend, the latest readings for crude oil and the dollar come from FRED's Friday observations.

The spot price of West Texas Intermediate crude was $108.21 a barrel as of Oct. 16, according to FRED. The broad trade-weighted dollar index stood at 121.40 on the same date.

Weekend headlines touched on energy and technology supply chains. CNBC reported that Trump waived broad new Russia sanctions and tariffs under the Graham Act, citing national interest. CNBC also reported South Korea's finance minister as saying the semiconductor market would remain solid at least through next year. Reuters reported that China AI supply-chain IPOs held firm despite a valuation pullback, citing Citi.

The coming week's energy calendar includes the API crude oil stock report on Oct. 20, with an expected draw of 1.3 million barrels after a draw of 11.12 million in the prior report. The EIA's weekly crude inventory figure, due Oct. 21, is forecast to show a draw of 0.8 million barrels, following an 8.557 million barrel draw. EIA gasoline stocks are expected to decline by 0.4 million barrels after a 3.518 million barrel build.

CFTC positioning data are scheduled for Oct. 23; speculative net positions which in the prior report stood at 207.9K for gold and 100.3K for crude oil.

Data

Data: FMP, FRED. Figures are close-to-close unless stated.

In the news

• CNBC: Trump waives broad new Russia sanctions and tariffs under Graham Act, citing national interest
• CNBC: Semiconductor market to remain solid ‘at least through next year,' South Korea finance minister says
• Reuters: China AI supply-chain IPOs hold firm despite valuation pullback, Citi says