Oil Gains on Positive China Data, Unstable Israel-Lebanon Ceasefire
OIL & GAS

Oil Gains on Positive China Data, Unstable Israel-Lebanon Ceasefire

Oil prices rose on Monday, driven by strong factory activity in China, the world’s second-largest oil consumer, and escalating tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire agreement.

By 1002 GMT, Brent crude futures had increased by 75 cents, or 1.04 per cent, to $72.59 per barrel, while US West Texas Intermediate crude was up 70 cents, or 1.03 per cent, at $68.70 per barrel.

Giovanni Staunovo, an analyst with UBS, stated that the better-than-expected economic data from China was supporting crude prices, which had been affected by concerns over Chinese demand. He added that stimulus measures were beginning to positively impact economic activity, which should help bolster Chinese oil demand in the coming months.

A private-sector survey revealed that China's factory activity expanded at the fastest pace in five months in November, boosting optimism among Chinese firms, even as US President-elect Donald Trump intensified his trade threats.

Traders were also monitoring developments in Syria, weighing whether these could escalate tensions across the Middle East, according to Yeap Jun Rong, a market strategist at IG.

Despite a truce between Israel and Lebanon taking effect on Wednesday, both sides accused each other of violating the ceasefire. The Lebanese health ministry reported several injuries from two Israeli strikes in southern Lebanon, while airstrikes intensified in Syria, where President Bashar al-Assad vowed to crush insurgents in Aleppo.

Oil prices rose on Monday, driven by strong factory activity in China, the world’s second-largest oil consumer, and escalating tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire agreement. By 1002 GMT, Brent crude futures had increased by 75 cents, or 1.04 per cent, to $72.59 per barrel, while US West Texas Intermediate crude was up 70 cents, or 1.03 per cent, at $68.70 per barrel. Giovanni Staunovo, an analyst with UBS, stated that the better-than-expected economic data from China was supporting crude prices, which had been affected by concerns over Chinese demand. He added that stimulus measures were beginning to positively impact economic activity, which should help bolster Chinese oil demand in the coming months. A private-sector survey revealed that China's factory activity expanded at the fastest pace in five months in November, boosting optimism among Chinese firms, even as US President-elect Donald Trump intensified his trade threats. Traders were also monitoring developments in Syria, weighing whether these could escalate tensions across the Middle East, according to Yeap Jun Rong, a market strategist at IG. Despite a truce between Israel and Lebanon taking effect on Wednesday, both sides accused each other of violating the ceasefire. The Lebanese health ministry reported several injuries from two Israeli strikes in southern Lebanon, while airstrikes intensified in Syria, where President Bashar al-Assad vowed to crush insurgents in Aleppo.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?