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Cryptocurrency markets have experienced a rally, reflecting the gain in U.S. stocks, following encouraging data about the American economy's strength.

Bitcoin (BTC) has surged back to $62,000, just days after the sharp selloff on Monday, August 5, which saw BTC drop from $64,000 to a low of $49,500.

Global oil demand growth needs to accelerate in coming months or the market will struggle to absorb an increase in oil supply that OPEC+ is planning to make from October, according to data, analysts and industry sources. Oil demand growth in the first seven months of the year from top consumers the United States and China had failed to meet some expectations even before renewed fears of a U.S. recession triggered a global stock and bond sell-off this week. If the economy slows further, oil demand growth will likely slow with it.

(Bloomberg) -- Oil steadied after a three-day rebound, with traders monitoring developments in the Middle East and a rally in wider markets. Most Read from BloombergHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureAfrica’s Richest City Needs $12 Billion to Fix InfrastructureNYC Subway Riders See ‘Exceptionally High’ Air PollutionNew York City Paid $2 Million for Empty Hotel Rooms Meant for MigrantsNew York City’s Outdoor Dining Sheds Will Start DisappearingBrent traded near $79 a

“Regardless of the next 60 days, the bull market will continue along traditional four-year cycle lines with solid gains in October and November,” one trader said.

Coinbase argues the definition is vague, and urges the CFTC to make determinations on a contract-by-contract basis rather than broad categorization

(Bloomberg) -- A large majority of economists surveyed see only a quarter-point decrease in interest rates coming in September — a finding that’s at odds with calls from some large Wall Street banks for a jumbo cut at the next meeting.Most Read from BloombergHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureAfrica’s Richest City Needs $12 Billion to Fix InfrastructureNYC Subway Riders See ‘Exceptionally High’ Air PollutionNew York City Paid $2 Million for Empty Hotel Rooms Meant f