Quick Overview

• U.S. jobless claims rose 32,000 to 516,000, the most in seven years.
  

• U.S. Exports fell from $165.3 to $155.4 billion in September while imports fell from $224.4 to $211.9 billion – resulting in $56.5 billion of net imports.
  

• Canada’s exports fell 1.0% to C$42.5 billion in September while imports rose 1.9% to C$38.0 billion
  

• The U.S. Department of Energy said:
  Supplies of crude oil are unchanged at 311.9 million barrels.
  Supplies of gasoline rose 2.0 million barrels
  Supplies of heating oil rose 1.3 million barrels.
  Refinery use fell from 85.3% to 84.6%
  YoY gasoline demand fell 1.9%
  YoY distillate demand fell 4.6%
  

• The International Energy Agency lowered its forecast of 2009 world oil demand by 670,000 barrels per day to 86.5 million barrels per day.

• Recession confirmed in Germany Q3 GDP contracts by -0.5% after -0.4% in Q2