+
Oil Prices Steady Amid Geopolitical Tensions, Stimulus
OIL & GAS

Oil Prices Steady Amid Geopolitical Tensions, Stimulus

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code