Oil Prices Steady Amid Geopolitical Tensions, Stimulus

10 Dec 2024 CW Team

Oil prices eased slightly maintaining most of their gains from the prior session, as mounting geopolitical risks following the fall of Syrian President Bashar al-Assad and China’s vow to ramp up economic stimulus kept a floor under prices.

Brent crude futures were down 13 cents, or about 0.2%, at $72.01 per barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 14 cents, also 0.2% lower, at $68.23 at 0151 GMT. Both benchmarks had climbed over 1%.

Rising geopolitical tensions in the Middle East, especially after the collapse of the Syrian government, have contributed to a risk premium in crude oil prices. Though Syria itself is not a major oil producer, its strategic location and alliances with Russia and Iran make the region highly sensitive to shifts in power. The fall of President Assad’s regime and the handover of power to the rebel-led Salvation Government add to concerns about regional instability.

China's announcement to adopt a more "appropriately loose" monetary policy next year to stimulate its economy has further supported oil prices. The world's largest oil importer is expected to ease its stance for the first time in 14 years to boost growth. Despite a drop in China’s consumer inflation to a five-month low in November, analysts anticipate crude prices will benefit from the fiscal stimulus.

Analysts see the morning’s price weakness as a potential buying opportunity, with expectations that crude oil prices could move towards the upper end of their recent range, around $72.50.

The market is also awaiting China’s trade data for November and a report from the American Petroleum Institute (API) on U.S. crude oil and gasoline stockpiles. Preliminary data from Reuters suggests that U.S. stockpiles may have fallen last week, while distillate inventories likely increased.

In the U.S., the oilfield services sector showed signs of growth, with 1,890 new jobs added in November, indicating more drilling and higher oil production.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..