World oil prices
At 6:00 a.m. on November 11, WTI oil price decreased by 1.98 USD, equivalent to 2.74%, to 70.38 USD/barrel. Brent oil price decreased by 1.76 USD, equivalent to 2.33%, to 73.87 USD/barrel.
Oil prices fell amid strong supply and weak demand, especially from China.
In addition, crude oil prices decreased due to the stronger USD after Mr. Donald Trump was elected President of the United States. Many experts predicted that Mr. Trump will have many strong policies on tightening illegal immigration, fighting trade fraud, reducing deficits with import partners to the United States...
This has caused the USD to increase sharply since the US election, causing crude oil prices on the market to become erratic in recent days.
Oil prices fall. (Photo: Business Port Nigeria).
Currently, the world crude oil market is dependent on the US policies under President-elect Donald Trump, including the view of tightening sanctions on Iran and Venezuela. In addition, the US Federal Reserve's plan to cut interest rates by another 25 basis points and the appreciation of the USD also strongly impact energy demand.
The shift in the global crude oil market shows investors' initial reactions to President-elect Donald Trump's policies, which are expected to affect world supplies as oil drillers cut production.
Domestic gasoline prices
In the operating period on November 7, the price of E5 RON92 gasoline increased by 336 VND/liter, not higher than 19,744 VND/liter; the price of RON95 gasoline increased by 351 VND/liter, not higher than 20,854 VND/liter.
Meanwhile, the prices of many types of oil also increased: diesel price increased by 769 VND/liter, up to 18,917 VND/liter; kerosene price increased by 461 VND/liter, up to 19,294 VND/liter. In contrast, fuel oil price decreased by 67 VND/kg, not higher than 16,394 VND/kg.
In this period, the executive agency continues not to set aside or use the gasoline price stabilization fund for any products.
Source: https://vtcnews.vn/gasoline-price-to-date-11-11-dong-usd-manh-len-gasoline-price-to-go-down-ar906648.html
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