Specifically, Brent oil price decreased by 2.03 USD to 86.84 USD/barrel. Similarly, US WTI oil price decreased by 2.23 USD to 82.31 USD/barrel.
According to analysts, oil prices fell as investors were cautious ahead of the US Federal Reserve (Fed) policy meeting, which will take place on October 31 and November 1. The results of this meeting and the upcoming US employment data will affect fuel demand.
Besides, the market is also waiting for China's October manufacturing and services PMI data to be released this week to look for signs of economic stability in the world's top crude oil importer.
On October 30, the World Bank (WB) forecast that global oil prices will average $90 per barrel in the fourth quarter and $81 per barrel in 2023 as slowing growth reduces demand. WB warned that the escalation of conflict in the Middle East could push oil prices higher.
Analysts say the conflict in the Middle East has so far not had a direct impact on oil supplies.
Domestically, this afternoon, the Ministry of Finance and the Ministry of Industry and Trade will periodically adjust gasoline prices. It is expected that gasoline prices will increase by about 300-500 VND/liter, and oil prices will decrease by about 500 VND/liter (kg).
Since the beginning of the year, gasoline prices have been adjusted 30 times, including 18 increases, 9 decreases, and 3 unchanged.
The retail prices of domestic gasoline on October 31 are as follows: E5 RON 92 gasoline is not more than VND 22,360/liter; RON 95 gasoline is not more than VND 23,510/liter; diesel oil is not more than VND 22,480/liter; kerosene is not more than VND 22,750/liter; mazut oil is not more than VND 16,610/kg.
Source
Comment (0)