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)

Infrastructure Transport

12 Jan 2026

Dhalbhumgarh Airport Faces 150-km Rule Hurdle

The issue has resurfaced following a recent statement by Union Civil Aviation Minister Ram Mohan Naidu, who said that under existing aviation policy, a new greenfield airport is generally not permitted within an aerial distance of 150 kilometres of an operational civilian airport. He added, however, that if a formal proposal is submitted, its impact on the existing airport can be examined and relaxations may be considered on a case-by-case basis. While the clarification has revived some hope for Dhalbhumgarh, it has also underlined the scale of the technical challenge facing the project. Unde..

Stakeholders Seek Parallel Ops For Vizag Airports

With road and metro rail links to Bhogapuram still several years away, stakeholders in north Andhra Pradesh have renewed demands to continue civil operations at INS Dega even after the commissioning of Bhogapuram International Airport. The new airport is expected to begin commercial operations from June. Officials said close to 80 per cent of the airport infrastructure at Bhogapuram, including the terminal building and internal approach roads, has already been completed. However, inadequate external connectivity remains a key concern. Making a case for parallel operations, Andhra Pradesh Air ..

Govt To Roll Out V2V Tech To Cut Road Crashes

In an effort to curb road accidents, particularly in low-visibility conditions such as dense fog, the government is set to roll out vehicle-to-vehicle (V2V) communication technology that will allow cars to exchange real-time data and alert drivers to potential dangers. The announcement was made by Union Road Transport and Highways Minister Nitin Gadkari after the 43rd meeting of the Transport Development Council. The technology involves installing an on-board unit (OBU) in vehicles, enabling wireless data exchange between nearby cars. This will allow vehicles to share information such as spee..