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.

Equipment

12 Dec 2025

Escorts Kubota Unveils BS V Next-gen Construction Range at Excon 2025

Escorts Kubota (EKL), one of India’s major engineering groups in the agricultural and construction equipment sectors, unveiled its latest BS V–compliant construction machinery line-up at Excon 2025. The refreshed portfolio underscores the company’s push toward application-driven, high-productivity solutions that reduce ownership costs and meet the needs of India’s expanding infrastructure landscape. With demand rising across urban development, industrial logistics and mining, the new range aims to deliver higher performance, durability and operator comfort.In the earthmoving segment, E..

ACE and Kotak Mahindra Bank Join Hands to Boost Backhoe Loader Financing

Action Construction Equipment (ACE), the world’s largest Pick-n-Carry crane maker and a leading manufacturer of material handling and construction equipment in India, has entered into a Memorandum of Understanding with Kotak Mahindra Bank to enhance the availability of flexible financing options for backhoe loader customers across the country.The collaboration aims to support contractors, infrastructure companies, entrepreneurs, SMEs, and emerging businesses by offering smoother access to credit through customised loan schemes, quicker turnaround times, and the extensive footprint of Kotak M..

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..