World oil prices
At 6:30 a.m. on November 17, WTI oil price was at $67.02/barrel, the same as the early morning trading price yesterday. Brent oil price was at $71.04/barrel, also unchanged from the previous trading session. Last week, Brent oil price decreased by about 4%, WTI oil price decreased by about 5%.
Gasoline prices are stable today. (Illustration: Minh Duc)
International crude oil prices fell more than 2% in the previous trading session, as investors worried about weaker oil demand in China and the possibility of a slowdown in the pace of interest rate cuts by the US Federal Reserve following the latest macroeconomic data.
In October, Chinese refineries processed 4.6% less crude oil than a year earlier due to shutdowns and reduced runs at smaller independent refineries.
Meanwhile, the country’s factory output growth slowed last month, with demand in the property sector showing no signs of easing, adding to investors’ concerns about the economic and industrial health of the world’s biggest crude oil importer in Asia.
Analysts say headwinds from China remain, and any stimulus they deliver could be overshadowed by the Trump administration’s upcoming tariffs, which are expected to be severe on trade with China.
Crude oil production is expected to rise this year, compared with previous forecasts, analysts said. U.S. oil production could rise to 13.23 million barrels a day, while global production could reach 102.6 million barrels a day. Increased production coupled with falling demand is likely to limit crude's gains.
Domestic gasoline prices
In the operating period on November 14, the price of E5 RON92 gasoline decreased by VND292/liter, not higher than VND19,452/liter. The price of RON95 gasoline decreased by VND247/liter, not higher than VND20,607/liter.
Prices of all types of oil also decreased simultaneously. Diesel oil price decreased by 344 VND/liter, not higher than 18,573 VND/liter. Kerosene price decreased by 306 VND/liter, not higher than 18,988 VND/liter and fuel oil price decreased by 385 VND/kg, not higher than 16,009 VND/kg.
In this management period, the Ministry of Industry and Trade - Ministry of Finance continues not to set aside or use the petroleum price stabilization fund for any products.
Source: https://vtcnews.vn/gasoline-price-hom-nay-17-11-cuoi-tuan-on-dinh-ar907832.html
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