Oil prices continue to fall by $2/barrel

Oil prices today November 26: Oil prices fell after reports that Israel and Lebanon had agreed to the terms of a deal to end the contract.

Gasoline price today November 26, 2024

Recorded on Oilprice at 5:00 a.m. on November 26, 2024 (Vietnam time), WTI oil price was at 69.07 USD/barrel, down 3.05% (equivalent to an increase of 2.17 USD/barrel).

WTI oil price on the world market in the early morning of November 26, 2024 (Vietnam time)

Similarly, Brent oil price was at 73.16 USD/barrel, down 2.69% (equivalent to an increase of 2.02 USD/barrel).

Brent oil price on the world market in the early morning of November 26, 2024 (Vietnam time)

Oil prices fell more than $2 a barrel today after multiple reports said Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict, citing unnamed senior US officials.

Israel said earlier it was moving towards a ceasefire in its war with Hezbollah but many issues remained to be resolved, while Lebanese officials expressed cautious optimism but said Israeli Prime Minister Benjamin Netanyahu could not be trusted.

" It appears that news of a ceasefire between Israel and Lebanon is behind the fall in oil prices, even though there have been no supply disruptions due to the conflict between the two countries and oil risk premiums were already low before the recent price drop," said Giovanni Staunovo of UBS .

Phil Flynn, senior analyst at Price Futures Group, said in a note Monday that the oil market is being pushed up and down as concerns about supply disruptions increase or decrease.

“A report that Israeli Prime Minister Netanyahu approved the Lebanon ceasefire in principle could be a negative catalyst, but we will have to see more details as they become available. Last week, the world was stunned when Russia launched a hypersonic missile” into Ukraine, Flynn wrote in his energy report.

Last week, both Brent and US WTI crude futures posted their biggest weekly gains since late September and hit their highest settlement levels since November 7 after Russia fired a hypersonic missile into Ukraine in a warning to the United States and the United Kingdom following Ukrainian attacks on Russia using US and British weapons.

Azerbaijan Energy Minister Parviz Shahbazov told Reuters that OPEC+ could consider maintaining current oil output cuts from January 1 at its next meeting on Sunday.

The group, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, has postponed price hikes this year due to concerns about demand.

Domestic retail gasoline prices on November 26, 2024 will be applied according to the adjustment session from 3:00 p.m. on November 22 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	19,343	-109
RON 95 gasoline	20,528	-79
Diesel	18,509	-64
Oil	18,921	-67
Fuel oil	16,014	+5

Specifically, the price of E5 RON 92 gasoline decreased by VND109/liter, down to VND19,343/liter; RON 95 gasoline decreased by VND79/liter, down to VND20,528/liter.

Price of 0.05S diesel: Decreased by 64 VND/liter, down to 18,509 VND/liter; Kerosene decreased by 67 VND/liter, down to 18,921 VND/liter. Particularly, price of 180CST 3.5S fuel oil increased by 5 VND/kg, at 16,014 VND/kg.

Gasoline price today November 26, 2024. Illustration photo

In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.

Thus, from the beginning of 2024 up to now, domestic gasoline prices have undergone 46 adjustment sessions, including 23 decrease sessions, 18 increase sessions and 6 opposite sessions.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-26112024-gia-dau-tiep-tuc-giam-2-usdthung-360872.html