The US and European stock indices are recovering

The US Secretary of Commerce said that the Biden administration’s lifting of international travel restrictions in early November would significantly boost the US economy.

The US House of Representatives passed the legislative initiative on new sanctions against the Nord Stream 2 pipeline yesterday as part of the defense budget for the next fiscal year (starting October 1).

The US oil inventories are at their lowest since 2018, while European stocks remain below average for this time of year. Vitol Group, the world’s largest independent oil trader, expects global oil demand to rise by another half-million barrels a day this winter as the energy crisis associated with gas forces a drive to consume other fuels. Vitol Group analysts predict oil prices to rise to $80 a barrel.

Natural gas prices are skyrocketing as seasonally low inventories in Europe, rising demand in China, and supply constraints from Russia lead to a conflict for raw materials for power generation before winter.

The People’s Bank of China has injected 460 billion yuan ($71 billion) into the banking system over the past five business days, including 70 billion yuan on Friday. It helps ensure sufficient liquidity during the Evergrande crisis. Due to tighter regulation by the authorities, home sales values in China fell by 20% year on year. It is expected that the decline in the real estate market will also affect emerging markets, affecting global demand for commodities. Fitch Ratings lowered its forecast on China amid Evergrande uncertainty and said it expects China’s economy to grow at 8.1% this year, down from a previous estimate of 8.4%. The central bank of the Philippines kept its key interest rate unchanged as the economy recovered steadily.

Fitch Ratings lowered its forecast on China amid Evergrande uncertainty and said it expects China’s economy to grow at 8.1% this year, down from a previous estimate of 8.4%. The central bank of the Philippines kept its key interest rate unchanged as the economy recovered steadily.