Oil Prices Fall Over 1% Amid Hurricane Risk Receding

12 Nov 2024 CW Team

Oil prices saw a decline of more than 1% as the risk posed by Hurricane Rafael receded. The storm, which had initially raised concerns over potential disruptions in oil production and refinery activities, began to lose strength, easing fears of a supply shortage. As a result, crude futures fell, with Brent and West Texas Intermediate (WTI) benchmarks experiencing notable losses.

The drop in prices also comes amid broader concerns about global economic growth and its impact on oil demand. Analysts have been monitoring these factors closely, with fluctuations in the energy market continuing to be driven by geopolitical uncertainties and weather-related events like hurricanes.

While Hurricane Rafael's threat subsided, traders remain cautious, aware of the ongoing volatility in the oil markets. Despite the dip, oil prices remain elevated compared to historical levels, driven by underlying factors such as geopolitical tensions and the ongoing energy transition.

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

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Government Cancels Auction Of Eleven Critical Mineral Blocks

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