World oil prices fluctuated in different directions in today's trading session, September 14 (Vietnam time). WTI crude oil was at 68.65 USD/barrel, down 0.32 USD/barrel, or 0.46%. WTI crude oil closed the previous trading session at 68.97 USD/barrel, opening today's session at 69.31 USD/barrel.
Brent crude oil was at $72.18 a barrel, up $0.21 a barrel, or 0.29 percent. Brent crude oil closed the previous session at $71.97 a barrel and opened today at $72.20 a barrel.
Information from the Vietnam Commodity Exchange (MXV) said that global economic growth pressures, especially in China and the US, the two largest energy consuming countries in the world, are reflecting gray tones in the picture of crude oil consumption growth.
In recent weeks, dismal data, especially on the labor market, has raised concerns about the health of the economy and raised questions about whether a recession is on the horizon for the United States.
In its August jobs report, the U.S. Labor Department said the country's nonfarm payrolls sector added just 142,000 jobs last month, far fewer than the 164,000 economists polled by Dow Jones expected. July's figure was also revised down sharply to 89,000 from the previous estimate of 114,000.
Regarding the domestic petroleum 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 (Thursday, September 19), gasoline prices may be adjusted downward. Of which, gasoline prices are forecast to decrease by 150 - 200 VND/liter; diesel is forecast to decrease by 200 VND/liter. The above forecasted prices do not take into account the management agency's allocation or expenditure from the Petroleum Price Stabilization Fund.
In the previous adjustment session (Thursday, September 12), the price of E5 RON 92 gasoline decreased by VND1,080/liter, to VND18,890/liter; RON 95 gasoline decreased by VND1,190/liter, to VND19,630/liter. Similarly, the price of diesel oil also decreased by VND930/liter, to VND17,160/liter; the price of kerosene decreased by VND930/liter, to VND17,790/liter. Fuel oil also decreased to VND14,460/kg.
Thus, domestic gasoline prices have decreased for the fourth consecutive session after only one increase. Since the beginning of the year, gasoline prices have increased 17 times and decreased 20 times. Currently, the price of this commodity is at its lowest level in more than 3 years and is equivalent to May 2021.
