World oil prices
The forecast of reduced oil demand of 14 OPEC member countries in 2019 and 2020 has negatively affected oil prices today, July 13.
As of early morning of July 13, Vietnam time, on the New York Mercantile Exchanghe, the price of WTI light crude oil delivered in August 2019 was at 60.39 USD/barrel, up 0.19 USD/barrel in the session.
However, compared to the same period on July 12, WTI oil price for August 2019 decreased slightly by 0.19 USD/barrel.
Meanwhile, Brent oil price in September 2019 stood at 66.89 USD/barrel, up 0.37 USD/barrel in the session.
Tokyo crude oil price: 42,000 JPY/barrel - almost unchanged compared to yesterday.
According to the monthly report, OPEC has forecast the world demand for crude oil from 14 member countries in 2020 to be 29.27 million barrels/day, down 1.34 million barrels/day compared to 2019.
However, world oil prices are also being supported by positive signals from the US-China trade war as after a long hiatus, dialogues between the two countries' officials have been resumed.
Exciting sentiment in the markets about the possibility of the FED cutting interest rates to support US economic growth will also help improve some of the concerns about supply surplus in the crude oil market.
Tensions in the Gulf after the arrest of the UK's Iranian super oil tanker and tensions between the US and Iran continue to raise concerns about the possibility of oil supply through the Hormuz Strait being interrupted.
Domestic gasoline prices
On the afternoon of July 2, the Ministry of Industry and Trade - Ministry of Finance adjusted gasoline prices. Specifically, after implementing the allocation and use of the Petroleum Price Stabilization Fund, the Inter-Ministry increased the selling price of popular consumer petroleum products on the market:
RON95-III gasoline increased by 383 VND/liter;
E5RON92 gasoline increased by 420 VND/liter;
Diesel 0.05S increased by 292 VND/liter;
Kerosene increased by 326 VND/liter;
mazut 180CST 3.5S oil increased by 105 VND/kg.
Thus, the selling price of popular consumer gasoline products on the market is not higher than the price:
E5RON92 gasoline is not higher than VND 19,653/liter;
RON95-III gasoline is not higher than VND 20,517/liter;
Diesel 0.05S is not higher than VND 16,949/liter;
Kerosene is not higher than VND 15,937/tael
mazut 180CST 3.5S oil is not higher than VND 15,220/kg.
The adjustment of the selling price of petroleum products is regulated by petroleum traders but not earlier than 4:30 p.m. on July 2.
