Oil prices remain steady amid Israel-Hezbollah ceasefire

02 Dec 2024 CW Team

Oil prices remained steady early trading as markets evaluated the implications of a ceasefire between Israel and Hezbollah and anticipated OPEC+ policy discussions. Brent crude futures were slightly down by 2 cents at $72.79 per barrel, while U.S. West Texas Intermediate (WTI) crude futures dropped 4 cents to $68.73 per barrel by 0114 GMT. The ceasefire, set to take effect, follows an agreement brokered by the United States and France to end the conflict along the Israeli-Lebanese border, which has caused significant casualties since last year’s Gaza war. Israeli Prime Minister Benjamin Netanyahu affirmed readiness to implement the deal but warned of strong retaliation for any violations by Hezbollah. Hiroyuki Kikukawa, president of NS Trading at Nissan Securities, noted that markets are cautiously monitoring adherence to the ceasefire, with expectations for WTI prices to range between $65 and $70 per barrel. This range reflects considerations like winter weather in the Northern Hemisphere, potential shale oil production increases under the incoming Trump administration, and demand trends in China. OPEC+ is also under scrutiny as the group, which produces about half of the world’s oil, prepares to meet on December 1. Discussions are focused on delaying planned output increases for 2025 due to weaker demand from China and globally, along with rising production outside the bloc. In the U.S., crude inventories fell significantly by 5.94 million barrels in the week ending November 22, surpassing analysts' expectations of a 600,000-barrel decline. However, fuel inventories saw an uptick, adding complexity to market dynamics. Additionally, President-elect Donald Trump’s proposal for a 25% tariff on imports from Mexico and Canada, including crude oil, has raised concerns about potential trade disruptions, further influencing market sentiment. (ET)

Infrastructure Urban

11 May 2026

Ottobock and Celcius Set Up Prosthetics Warehouse in India

Celcius Logistics, a domestic third-party logistics (3PL) company specialising in end-to-end cold-chain solutions, has partnered with Ottobock India, the Indian arm of Germany-based Ottobock, to establish a dedicated prosthetics warehouse and logistics distribution hub in India. As part of the collaboration, a technology-enabled facility has been launched in Thane to streamline storage and nationwide movement of prosthetic and assistive devices.The dedicated warehouse is expected to strengthen the medical supply chain by reducing turnaround time and improving access to prosthetic products acro..

Large Office Deals Dominate Q1 2026 Leasing: Knight Frank India

Large office space transactions continued to drive India’s commercial leasing market in Q1 2026, with deals of 100,000 sq ft and above accounting for 65% of total leasing activity across the country’s top eight cities, according to Knight Frank India. The segment recorded 19.5 million sq ft of transactions during the quarter, marking a 3% year-on-year increase from 19 million sq ft in Q1 2025.Bengaluru remained the leading market for large office leases, registering 7 million sq ft of transactions in the 100,000 sq ft-plus category. Large deals formed 77% of the city’s overall office lea..

Eurobond Enters Sealants Market With New Subsidiary

"Euro Panel Products, known as Eurobond, has incorporated Euro Sealant Private as a majority-owned subsidiary, marking its diversification from aluminium composite panels into the sealants market. The company said Euro Sealant will offer professional-grade silicone sealants for applications across glass, metal, brick, concrete, aluminium, composites and panel materials. The products are designed for sealing, waterproofing and structural bonding in modern construction. The India sealants market was valued at Rs 32.32 billion in 2025 and is proje..