World oil prices
At 6:00 a.m. on November 1, Brent crude oil price increased by 0.61 USD, equivalent to 0.84%, to 73.16 USD/barrel. WTI crude oil price increased by 1.31 USD, equivalent to 1.89%, to 70.57 USD/barrel.
Oil prices rose after 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.
Gasoline prices go up. (Photo: Minh Duc).
In addition, US crude oil imports from Saudi Arabia fell to their lowest level since January 2021, falling 20,000 barrels per day to 13,000 barrels per day last week. The EIA also reported declines in crude oil imports from Canada, Iraq, Colombia, and Brazil.
The strongest factor supporting higher oil prices was a drop in gasoline inventories amid higher demand, said Kpler analyst Matt Smith. In addition, lower imports helped crude inventories draw down slightly.
On the supply side, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) may delay plans to increase oil production in December by a month or more due to concerns about weak oil demand and rising supply.
Domestic gasoline prices
In the operating period on October 31, the price of E5 RON92 gasoline decreased by VND284/liter, not higher than VND19,408/liter; RON95 gasoline decreased by VND391/liter, not higher than VND20,503/liter.
In contrast to gasoline prices, oil prices increased simultaneously. Specifically, diesel increased by 91 VND/liter, not higher than 18,148 VND/liter; kerosene increased by 263 VND/liter, not higher than 18,833 VND/liter and fuel oil increased by 232 VND/kg, not higher than 16,461 VND/kg.
In this period, the regulatory agency continues not to set aside or use the gasoline price stabilization fund for E5 RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.
Source: https://vtcnews.vn/gasoline-price-today-1-11-tiep-tuc-di-len-ar905059.html
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