10.11. Oil increases, Chinese property sector raises concerns

News for today, November 10:

European stock markets are expected to open lower on Wednesday amid traders' caution ahead of key U.S. inflation data and renewed concerns over the state of the Chinese property market. Developer Fantasia Holdings announced Wednesday that it may not be able to meet its debt obligations, while the country's largest developer, China Evergrande Group, is due for a solvency test on Wednesday, when the company is due to pay more than $ 148 million in bond payments.

Crude oil prices rose again Wednesday, following the industry data that showed an unexpected decrease of 2.5 million barrels in U.S. crude stocks. Both Brent and WTI reached two-week highs on Wednesday, pushed by declining global oil inventories in the past few months, as well as the latest data from the American Petroleum Institute that confirms fears that supply will remain limited despite increasing demand.

Gold and bitcoin have won amid market turbulence, with gold up about 3.5% in a week to $ 1,826 an ounce, and bitcoin hovering at $ 66,400 after hitting a record of $ 68,564 a day ago. The price of Brent crude is now $ 85.30 per barrel, WTI — $ 84.33. EUR/USD is at 1.1567, GBP/USD — 1.3535, gold is at $ 1,826.19 per ounce.­­­­