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

04 Dec 2024 CW Team

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.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..