World oil prices in the trading session on October 14 (Vietnam time) simultaneously decreased sharply.
At 10:00 a.m., WTI crude oil was at $74.60/barrel, down $0.96/barrel, or 1.27%. WTI crude oil closed the previous trading session at $75.56/barrel and opened today's session at $74.78/barrel.
Brent crude oil was at $78.01 a barrel, down $1.03, or 1.30%. Brent crude oil closed the previous trading session at $79.04 a barrel and opened today's session at $78.39 a barrel.
Analysis shows that the crude oil market has not stopped fluctuating as tensions in the Middle East show no signs of cooling down. Oil prices have turned down rapidly thanks to a sharp increase in US oil inventories.
US oil inventories rose by 5.8 million barrels last week, more than double the forecast of analysts polled by Reuters, the US Energy Information Administration said.
Although oil prices fell at the beginning of the week, by the end of last week, WTI oil increased by 1.4%, and Brent oil, the global benchmark, increased by nearly 1%. Over the past month, these two benchmark oil products have increased by more than 9%.
Therefore, according to the assessment of some petroleum distribution and trading enterprises, in the next adjustment session (Thursday, October 17), RON 95 gasoline price may increase slightly by 270 VND/liter; E5 gasoline is forecast to increase by 240 VND/liter; and diesel is forecast to increase by 190 VND/liter.
This is only the initial forecast of petroleum trading enterprises. Domestic price adjustments still have mixed fluctuations, increasing and decreasing trends, and also depend on the management agency's use of the Petroleum Price Stabilization Fund.
Domestically, on October 14, Petrolimex's retail price list for gasoline and oil announced that the price of RON95 gasoline in the market of region 2, after being adjusted up last Thursday, has increased to 22,000 VND/liter.
Of which, RON 95-V gasoline is 22,030 VND/liter, RON 95-III gasoline is 21,480 VND/liter, E5 RON 92 gasoline is 20,230 VND/liter, diesel oil is 19,300 VND/liter, kerosene is 19,160 VND/liter, fuel oil (wholesale price) is 16,220 - 20,620 VND/kg.
