Here is the latest round of world news — trade diplomacy, crypto markets, and oil.
China and EU reach 16-point trade understanding in Beijing
China and the European Union agreed on a 16-point list of common understandings after two days of trade talks in Beijing between Commerce Minister Wang Wentao and EU trade chief Maros Sefcovic. The two sides found common ground on hybrid-vehicle trade under WTO rules, agreed to keep talking on EV anti-subsidy price undertakings and review procedures, and committed to more engagement on export controls. A ministerial video call is set for January and the next round for March 2027. The outcome eases the immediate tariff risk on Chinese goods entering the EU, though the EU could still take unilateral safeguard action ahead of the October 15-16 leaders’ summit.
Bitcoin rebounds above $82,000 after options expiry
Bitcoin recovered to around $82,474, up about 0.9% in 24 hours, after touching an $80,300 low earlier. The $2.16 billion in BTC and ETH options expiring Friday was completed, removing one source of volatility pressure. A new uncertainty factor emerged: the US government moved over $1 billion in seized Bitcoin, including about $770 million to Coinbase Prime, with activity in wallets tied to the Bitfinex hack. No sale has been confirmed, but traders are watching for added selling pressure.
Strait of Hormuz sees slight recovery in tanker traffic
Vessel transits through the Strait of Hormuz ticked up from 7 to 10 on Wednesday, a small recovery from the lowest traffic in over two months. Crude crossing the strait was about 10.1 million barrels per day — still roughly 27% below its wartime high. In a separate move, the US granted a sanctions waiver to Iraq’s national carrier, allowing it to fly into Iran for the first time since the war began, on the pilgrim route to Najaf. US Defense Secretary Hegseth said Washington is not seeking nation-building or a ground occupation in Iran, but warned any military action would be “swift and decisive.” Brent crude was near $103 and WTI around $90.4.
Market snapshot
Bitcoin traded around $82,474-83,200, Ethereum near $2,460-2,500, Solana around $109, and XRP near $1.35. Brent crude held near $103, WTI around $90.4, gold near $4,210, and the 10-year US Treasury yield at about 5.24%. US spot Bitcoin ETFs lost $484.9 million on October 7 — the worst single-day outflow since June. Traders now look to October 14 CPI data, the October 28 Fed meeting, the October 15-16 EU leaders’ summit, and the November 3 US midterms.