Oil rises on expanding Chinese factory activity, but set to end year lower

Oil prices increased due to China's expanded manufacturing activity in December. Brent crude futures increased to $74.46 a barrel and U.S. West Texas Intermediate crude to $71.48 a barrel. Brent declined 3.2%, and WTI was down 0.6% for the year. Declining U.S. crude stockpiles provided short-term support.

Oil rises on expanding Chinese factory activity, but set to end year lower
Oil prices rose in early trade on Tuesday after data showed China's manufacturing activity expanded in December, but for a second consecutive year oil was on track to end lower due to demand concerns in top consuming countries.

Brent crude futures rose 47 cents, or 0.7%, to $74.46 a barrel as of 0130 GMT. U.S. West Texas Intermediate crude gained 49 cents, also 0.7%, to $71.48 a barrel.

For the year, Brent declined 3.2%, while WTI was down 0.6%. China's manufacturing activity expanded for a third straight month in December but at a slower pace, an official factory survey showed on Tuesday, suggesting a blitz of fresh stimulus is helping to support the world's second-largest economy.

Chinese authorities have also agreed to issue a record 3 trillion yuan ($411 billion) in special treasury bonds in 2025 to revive economic growth, Reuters reported last week.

While a weak longer-term demand outlook has weighed on prices, they could find short-term support from declining U.S. crude stockpiles , which are expected to have fallen by about 3 million barrels last week.

Stock Trading Masterclass on Value Investing and Company Valuation By - The , Get Certified By India's Top Business News Brand View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.

com View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.

com View Program Stock Trading Dow Theory Made Easy By - Vishal Mehta, Independent Systematic Trader View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder- Indiacharts.

com View Program Stock Trading ROC Made Easy: Master Course for ROC Stock Indicator By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Heikin Ashi Trading Tactics: Master the Art of Trading By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading RSI Made Easy: RSI Trading Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Introduction to Technical Analysis & Candlestick Theory By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Both Brent and WTI were buoyed by a larger-than-expected drawdown from U.S. crude inventories in the week ended Dec. 20 as refiners ramped up activity and the holiday season boosted fuel demand.

[EIA/S] (You can now subscribe to our ETMarkets WhatsApp channel )

Related Fuel News

More updates you might want to read next.

Tata Motors Plans Rs 40,000 Crore FY31 Investment: Why Its EV And CNG Push Matters For Buyers

Tata Motors Passenger Vehicles is planning to invest Rs 37,500-40,000 crore over the next five years, up to FY31, as it targets a bigger production base, more models and annual sales of over 1.2 million units. ET also reported that the company wants revenue to cross Rs 6 lakh crore by FY31 with a 10 percent EBIT margin, with EVs and CNG models doing much of the heavy lifting. For buyers, the story is less about balance-sheet ambition and more about what kind of cars Tata wants to sell next.

Petrol, Diesel Rates May Ease As Cheaper Crude Arrives: What Hardeep Puri’s Signal Means For India

Union Petroleum Minister Hardeep Singh Puri says petrol and diesel rates in India may ease once recently bought cheaper crude reaches refiners, after global oil prices cooled and Brent slipped below $80 a barrel. The signal matters because India imports most of its crude, so any sustained fall can filter through to motorists, freight users and inflation. But the relief is unlikely to be immediate, because fuel prices depend on inventory cycles, logistics and how quickly oil companies pass on lower input costs.

Petrol, Diesel Rates May Ease As Cheaper Crude Arrives: What Hardeep Puri’s Signal Means For India

Union Petroleum Minister Hardeep Singh Puri says petrol and diesel rates in India may ease once recently bought cheaper crude reaches refiners, after global oil prices cooled and Brent slipped below $80 a barrel. The signal matters because India imports most of its crude, so any sustained fall can filter through to motorists, freight users and inflation. But the relief is unlikely to be immediate, because fuel prices depend on inventory cycles, logistics and how quickly oil companies pass on lower input costs.

Toyota Ebella Deliveries Begin In India: Why The ₹23.6 Lakh E3 Matters For EV Buyers

Toyota has started deliveries of the Urban Cruiser Ebella electric SUV in India, turning the model from launch headline into a real-world ownership story. The top-spec E3 is priced at Rs 23.60 lakh ex-showroom, while Toyota is also offering a Battery-as-a-Service route that lowers the entry price to Rs 15.25 lakh and charges Rs 4.99 per km for battery use. For EV buyers, this is the point where Toyota’s first mass-market electric SUV begins proving itself on the road.