Oil prices steady after dip on China stimulus impact

13 Nov 2024 CW Team

Oil prices remained largely stable in early September 12, trading as investors awaited insights from OPEC’s monthly report, following declines driven by concerns over oversupply and China’s recent stimulus announcement. By 0158 GMT, Brent crude futures had edged down by 1 cent to $71.82 per barrel, while U.S. West Texas Intermediate crude rose 3 cents to $68.07 per barrel.

Both benchmarks saw a decline of over 5% across the last two sessions, affected by China’s 10 trillion yuan debt relief plan aimed at alleviating local government financial pressure. Analysts, however, indicated the package might fall short of significantly boosting economic growth.

The OPEC report is expected to provide direction on demand forecasts, with the possibility of further demand downgrades through 2025, which could add pressure to prices. ING analysts noted the recent shift in Brent and WTI time spreads toward contango, suggesting a well-supplied market.

Meanwhile, a stronger U.S. dollar, fuelled by expectations around upcoming U.S. inflation data and Federal Reserve commentary, added further pressure on oil prices by making dollar-denominated commodities like oil more expensive for foreign buyers. (ET)

Infrastructure Transport

12 Mar 2026

Kavach 4.0 Commissioned on Delhi–Mumbai and Delhi–Howrah

"Kavach version four has been commissioned on 1,452 route km, covering the high density Delhi–Mumbai and Delhi–Howrah corridors. The rollout included laying 8,570 km of optical fibre, installation of 1,100 telecom towers, deployment of trackside equipment over 6,776 RKm and establishment of 767 station data centres. Trackside implementation has been taken up on 24,427 RKm covering Golden Quadrilateral, Golden Diagonal and High Density Network sections. The programme aims to strengthen signalling and train protection on key routes.Kavach is an indigenously developed automatic train protecti..

Railways Advance Kalyan–Murbad Line And Mumbai Capacity Expansion

"Indian Railways is advancing multiple rail infrastructure projects in Maharashtra, including the sanctioned Kalyan–Murbad new line and sizable investments under the Mumbai Urban Transport Project and the Mumbai–Ahmedabad High Speed Rail project. The Kalyan–Murbad 28 km new line has been sanctioned at Rs 8.36 billion (bn) on a 50:50 cost-sharing basis with the Government of Maharashtra and has been declared a Special Railway Project for land acquisition; proposals covering 214 hectares are at various stages of acquisition. Budgetary outlay for projects falling fully or partly in Maharash..

Parliamentary Panel Flags Funding Gaps in Heavy Industries

"The Department-Related Parliamentary Standing Committee on Industry (Rajya Sabha) presented its 332nd report on the Demands for Grants 2026-27 of the Ministry of Heavy Industries (MHI). Figures converted from crore and lakh are expressed in million (mn). The Budget Estimates 2026-27 for the Ministry stand at Rs 79,399 mn against a projected requirement of Rs 94,843.2 mn, a shortfall of about 16 per cent, with revenue at Rs 79,370.8 mn and capital compressed to Rs 28.2 mn from Rs 5,020 mn.The committee flagged recurring BE-to-RE compression and declining revised estimate utilisation, and calle..