U.S. equities continued to set the pace for the international equity markets, trading lower on the back of growing concerns over the fate of the U.S. automakers, as well as weak economic data reports. New houses (Housing Starts) and building permits in the U.S. continued to set record lows, implying that the U.S. housing market is not out of the doldrums yet. European and Asian equities also traded lower as concern mounted that the global economic slowdown would cut earnings at financial firms and commodity producers. As expected, U.S crude oil inventories increased more than forecast as fuel demand dropped. Crude oil December futures fell 1.2% as in light of the glaring signs that fuel consumption remains in the U.S. which is the largest consumer of the commodity in the world. Source Global Trader International SpreadsĀ 19 NovemberĀ 2008