World oil prices
At 6:30 a.m. on December 14, Brent oil price was 74.49 USD/barrel, up 1.09 USD/barrel compared to early yesterday morning, equivalent to 1.47%. WTI oil price was 771.29 USD/barrel, up 1.27 USD/barrel, equivalent to 1.81%.
The recent acceleration in oil prices has been driven by expectations of tighter sanctions on Russia and Iran, China's economic situation, political turmoil in the Middle East and the prospect of a US Federal Reserve interest rate cut next week, according to analysts at energy consultancy Ritterbusch and Associates.
European Union ambassadors have agreed to impose a 15th package of sanctions targeting Russia's underground oil tanker fleet, while the US is also considering similar measures.
(Photo: Petro Times)
Britain, France and Germany have told the UN Security Council they are ready to restore any international sanctions against Iran if necessary to prevent it from acquiring nuclear weapons. Data from China this week showed that the country's crude oil imports rose in November, the first time in seven months that they have fallen.
Imports are expected to remain high until early 2025, as refiners prioritize supplies from Saudi Arabia because of lower prices.
The International Energy Agency (IEA) raised its forecast for global oil demand growth in 2025 to 1.1 million barrels per day from 990,000 barrels per day, as China rolls out new stimulus measures. Investors are also betting that the Fed will cut interest rates at its December 17-18 meeting and continue cutting next year, after data showed a surprise increase in weekly jobless claims.
On interest rates, four European Central Bank policymakers backed further rate cuts provided inflation remains stable at the 2% target. Lower interest rates could boost economic growth and oil demand.
Domestic gasoline prices
In the operating period on December 12, the price of E5 RON92 gasoline decreased by 3 VND/liter, not higher than 19,861 VND/liter; conversely, the price of RON95 gasoline increased by 33 VND/liter, not higher than 20,596 VND/liter.
Meanwhile, the prices of all types of oil decreased. Diesel oil price decreased by 127 VND/liter, not higher than 18,255 VND/liter. Kerosene price decreased by 251 VND/liter, not higher than 18,566 VND/liter and fuel oil price decreased by 551 VND/kg, not higher than 15,574 VND/kg.
In this period, the regulatory agency continues not to set aside or use the gasoline price stabilization fund for all products.
Source: https://vtcnews.vn/gasoline-price-today-14-12-quay-dau-bat-tang-ar913572.html
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