Oil prices today November 1, 2024: Oil prices increased by more than 2 USD after resolving reports of geopolitical tensions between Iran and Israel.
Gasoline price today November 1, 2024
Recorded on Oilprice at 5:00 a.m. on November 1, 2024 (Vietnam time), WTI oil price was at 70.53 USD/barrel, up 0.95% (equivalent to an increase of 0.65 USD/barrel).
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| WTI oil price on the world market in the early morning of November 1, 2024 (Vietnam time) |
Similarly, Brent oil price was at 73.17 USD/barrel, up 0.84% (equivalent to an increase of 0.61 USD/barrel).
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| Brent oil price on the world market early morning November 1, 2024 (Vietnam time) |
Oil prices continued to rise after closing Thursday, rising more than $2 a barrel following reports that Iran is preparing to attack Israel from Iraqi territory in the coming days.
Israeli intelligence believes Iran is preparing to attack Israel from Iraqi territory in the coming days, possibly before the US presidential election on November 5, Axios reported on Thursday, citing two unnamed Israeli sources.
The attack is expected to be launched from Iraq using a large number of drones and ballistic missiles, the Axios report added. The report said launching the attack through pro-Iranian militias in Iraq could be an attempt by Tehran to avoid another Israeli attack on strategic targets in Iran.
“ This puts the possibility back in the mix that Israel could strike Iran again ,” said Phil Flynn, senior analyst at Price Futures Group, warning that Iranian infrastructure may not be the target.
Iran is a member of OPEC with an output of about 3.2 million barrels per day or 3% of global output.
The week started with a big sell-off as Brent and WTI futures fell more than 6% on Monday after Israel showed restraint in its retaliatory strikes on Iran over the weekend. The possibility that OPEC+ would delay plans to increase oil production also supported prices on Thursday.
Reuters reported that a decision could come as early as next week . OPEC+ is scheduled to meet on December 1 to decide on the next policy steps.
In China, the world's biggest oil importer, manufacturing activity grew in October for the first time in six months, suggesting stimulus measures are working.
" A number of international events have converged at the start of the month that could make the oil market more volatile in early November ," said Rystad Energy's Sahdev, citing the US election, persistently weak Chinese demand outlook, OPEC+ uncertainty and the war in the Middle East.
Domestic retail gasoline prices on November 1, 2024 will be applied according to the adjustment session from 3:00 p.m. on October 31 by the Ministry of Finance - Ministry of Industry and Trade.
Item | Price (VND/liter/kg) | Difference from previous period |
E5 RON 92 gasoline | 19,408 | -284 |
RON 95 gasoline | 20,503 | -391 |
Diesel | 18,148 | +91 |
Oil | 18,833 | +263 |
Fuel oil | 16,461 | +232 |
Specifically, the price of E5 RON 92 gasoline decreased by VND284/liter, down to VND19,408/liter; RON 95 gasoline decreased by VND391/liter, down to VND20,503/liter.
Diesel 0.05S price: Increased by 91 VND/liter, at 18,148 VND/liter; Kerosene increased by 263 VND/liter, at 18,833 VND/liter; Mazut 180CST 3.5S increased by 232 VND/kg, at 16,461 VND/kg.
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| Gasoline price today November 1, 2024. Illustration photo |
In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.
Thus, from the beginning of 2024 to now, domestic gasoline prices have undergone 43 adjustment sessions, including 21 decrease sessions, 17 increase sessions and 6 opposite sessions.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-1112024-nhich-tang-356086.html
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