Specifically, Brent oil price increased by 2,39 USD, equivalent to 2,99%, to 82,29 USD/barrel. US WTI oil price increased by 2,27 USD, equivalent to 3,02%, to 77,36 USD/barrel.
According to Reuters, geopolitical tensions in the Middle East and shipping disruptions on the Red Sea corridor are still the focus of rising oil prices.
A coalition of 24 countries led by the US and UK has taken new military actions against the Houthi forces in Yemen, after they attacked ships passing through the Red Sea and affected global trade. bridge.
Driving the acceleration of oil prices is data from the US Energy Information Administration (EIA) showing that US crude oil inventories last week decreased by 9,2 million barrels, more than 4 times higher than the forecast decrease. 2,2 million barrels by analysts.
Besides, Mr. Yawger said that in the fourth quarter of 2023, US GDP increased by 3,3%, much higher than the expected increase of only 2%. This is a positive indicator for the US economy and that supports oil prices.
Oil prices also received support from expectations that the Chinese economy is recovering after the country's Central Bank will cut the amount of cash that banks hold as reserves from February 5.2.
The market has been waiting for economic stimulus from China for the past few months and bank reserve cuts could boost oil demand, said John Kilduff, partner at Again Capital LLC. However, the prospect of maintaining high interest rates remains in many parts of the world.
On January 25.1, the European Central Bank still kept its benchmark interest rate at a record high of 4%.
Domestically, yesterday afternoon, the retail price of gasoline and oil was adjusted during the price management period of the Ministry of Finance - Industry and Trade. Of which, RON 95-III gasoline increased by 925 VND/liter, E5 RON 92 gasoline increased by 753 VND/liter, diesel increased by 182 VND/liter. Notably, fuel oil was adjusted down by 14 VND/kg.
During this executive period, the inter-ministries set up a price stabilization fund for fuel oil at 300 VND/kg; No provision for price stabilization fund for gasoline, diesel and kerosene products; Do not use the Price Stabilization Fund for all petroleum products.
The domestic retail price of gasoline on December 26.1 is specifically as follows: E5 RON 92 gasoline does not exceed 22.171 VND/liter; RON 95-III gasoline is not more than 23.407 VND/liter; Diesel oil is not more than 20.376 VND/liter; kerosene not more than 20.544 VND/liter; fuel oil is not more than 15.494 VND/kg.
