On the morning of May 14, oil prices continued to climb, Brent crude oil increased by 1.67 USD, equivalent to 2.57%, to 66.63 USD/barrel; while WTI crude oil also increased by 1.72 USD, equivalent to 2.78%, to 63.67 USD/barrel.
According to Reuters, after the US and China agreed to sharply reduce import tariffs on goods for at least 90 days, the prices of the two world benchmark oil products continued to increase continuously. In addition, the newly released US inflation data for April was lower than expected, which is also supporting the increase in oil prices.
Gasoline prices may increase slightly again tomorrow
According to the report from the Bureau of Labor Statistics of the US Department of Labor, in April, the US consumer price index (CPI) increased by 0.2%, lower than the forecast of economists by 0.1%. Notably, over the past year, the CPI increased by only 2.3%, the smallest annual increase in 4 years, causing financial institutions to lower their forecast of economic recession in the US in the coming months.
However, the rise in oil prices has been restrained by abundant oil supplies. In May and June, OPEC+ planned to increase oil production more than expected. In addition, the US-China trade conflict has cooled, creating an opportunity for the world's largest oil importer, China, to maintain its buying momentum. Saudi Arabia is now China's second-largest oil supplier, after Russia.
Domestically, the Vietnam Petroleum Institute forecasts that gasoline prices in the adjustment period tomorrow afternoon (May 15) may increase by about 0.2 - 2.1%. On the morning of May 14, some gasoline traders in the South forecast that gasoline prices in this price adjustment period will increase by about 200 - 400 VND/liter/kg. This forecast does not include the Gasoline Price Stabilization Fund and other fees, if any changes./.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-xang-dau-hom-nay-1452025-xang-trong-nuoc-tang-bao-nhieu-dong-mot-lit-185250514083906718.htm
Source: https://baolongan.vn/gia-xang-dau-hom-nay-14-5-xang-trong-nuoc-tang-bao-nhieu-dong-mot-lit-a195223.html
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