Oil Prices Hit Highest Since October on Weather and China Stimulus

07 Jan 2025 CW Team

Oil prices reached their highest levels since October on January 6, driven by colder weather in the Northern Hemisphere and economic stimulus measures in China, which could boost global fuel demand. Brent crude futures rose 15 cents, or 0.2%, to $76.66 a barrel by 0125 GMT, following Friday's close at its highest since October 14. U.S. West Texas Intermediate (WTI) crude gained 22 cents, or 0.3%, to $74.18 a barrel, marking its highest close since October 11. China announced a significant increase in fiscal stimulus, including funding from ultra-long-dated treasury bonds to support business investments and consumer spending. Additionally, the country's central bank indicated plans to reduce the reserve requirement ratio and cut interest rates at an appropriate time to bolster economic recovery. China, the world’s largest oil importer and second-largest consumer, faced a decline in crude imports and fuel demand last year due to slowing economic growth and a shift to cleaner transportation fuels. On the supply side, Goldman Sachs predicts a decline in Iran's oil production and exports by the second quarter of 2025 due to expected policy changes and stricter sanctions under the incoming U.S. administration. Iran's output could fall by 300,000 barrels per day to 3.25 million bpd, according to the forecast. Meanwhile, the U.S. oil rig count, a key indicator of future production, decreased by one to 482 last week, as per a report from energy services firm Baker Hughes. (ET)

Building Material

11 Dec 2025

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..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..