World oil prices
At 6:00 a.m. on January 23, Brent crude oil was trading at $80.06 per barrel, up $1.5 from early this morning. WTI crude oil was trading at $75.19 per barrel, up $1.78.
Oil prices rose as tensions in the Middle East continued to rise, causing investors to worry that supplies would be affected.
“ There are finally concerns in the market about real supply disruptions ,” said John Kilduff, partner at Again Capital LLC.
Severe cold weather across the United States is limiting crude oil production in North Dakota, as well as hampering production in other states, said Phil Flynn, an analyst at Price Futures Group.
Gasoline prices continue to rise today. (Illustration: Cong Hieu).
More than 20% of output in the third-largest oil-producing state remains untouched after being halved last week due to extreme cold weather and operational challenges, according to North Dakota's pipeline regulator.
Analyst Flynn said the continued rally in the stock market suggests greater demand in the coming months. According to Flynn, pessimism about the economy is fading.
Meanwhile, there is no sign of Israel stopping its attacks in Gaza and Houthi attacks on commercial ships in the Red Sea continue despite US retaliation.
Domestic gasoline prices
From 3:00 p.m. on January 18, E5 RON92 gasoline increased by 377 VND/liter to 21,418 VND/liter, RON95 gasoline was no higher than 22,482 VND/liter (an increase of 547 VND/liter).
Oil prices also increased slightly. Diesel prices increased by VND487/liter, to VND20,194/liter; kerosene increased by VND205/liter, not higher than VND20,536/liter. In contrast, fuel oil prices decreased by VND307/kg, not higher than VND15,508/kg.
In this management period, the Ministry of Industry and Trade - Ministry of Finance decided to set up a price stabilization fund for fuel oil at 300 VND/kg (as in the previous period), not to set up a price stabilization fund for gasoline, diesel and kerosene; not to use the fund for all gasoline products.
This is the second consecutive price increase for gasoline and oil since the beginning of 2024. Previously, on January 11, gasoline and oil prices increased insignificantly, from 19 to under 400 VND/liter, kg.
Ngoc Vy
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