World oil prices on December 9 (Vietnam time) increased simultaneously. At 10:20 a.m., WTI crude oil was trading at 67.43 USD/barrel, up 0.23 USD/barrel, or 0.34%. Brent oil was trading at 71.32 USD/barrel, up 0.28%.
Although oil prices increased slightly in the adjustment session earlier this week, in the previous 5 trading sessions, oil prices decreased and remained sideways.
Oil prices moved mixed this week, weighed down by expectations of strong demand in China, concerns that the US Federal Reserve’s interest rate cuts would be temporarily interrupted and rising geopolitical risks in the Middle East.
Reuters reported that Israel continued to attack Hezbollah, ignoring the ceasefire agreement that took effect on November 27. According to UBS analyst Giovanni Staunovo, the risk to the ceasefire has some oil traders increasing concerns about tensions in the Middle East.
The conflict in Lebanon has not yet caused any disruption to oil supplies, but traders will continue to closely monitor tensions between Iran and Israel in the coming months.
Last week, a report from the US Energy Information Administration showed that while US oil inventories fell by 5.1 million barrels as refineries increased operations, US gasoline and distillate inventories increased by 2.4 million barrels and 3.4 million barrels, respectively.
Regarding the domestic market, according to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. According to current market developments, it is forecasted that in the next price adjustment period, petroleum prices may continue to decrease.
In particular, the price of RON 95 gasoline is forecasted to decrease by 80-200 VND/liter, E5 gasoline by 100-200 VND/liter, and diesel by 200-300 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 22 times and decreased 26 times. Oil prices have increased 21 times and decreased 27 times.
Domestic retail gasoline prices are currently being applied in the price management period on the afternoon of December 5.
E5 RON 92 gasoline is not more than 19,864 VND/liter.
RON 95-III gasoline is not more than 20,563 VND/liter.
Diesel oil not more than 18,382 VND/liter.
Kerosene not more than 18,817 VND/liter.
Fuel oil not exceeding 16,125 VND/kg.
