Today's gasoline and oil prices, October 15, WTI oil price decreased by 1.95 USD, equivalent to 2.64%, to 71.88 USD/barrel. Brent oil price "steadied" at 77.46 USD/barrel.
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| Today's oil price, October 15, WTI oil price decreased by 1.95 USD, equivalent to 2.64%, to 71.88 USD/barrel. Brent oil price "steadied" at 77.46 USD/barrel. (Source: Oilprice) |
Earlier, at the end of the first trading session of the week (October 14), oil prices fell more than 2% when OPEC once again lowered its forecast for global oil demand growth in 2024 and 2025 while China's oil imports decreased for the fifth consecutive month.
Brent crude fell $1.58, or 2%, to $77.46 a barrel. WTI crude fell $1.73, or 2.29%, to $73.83 a barrel.
On October 14, the Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for global oil demand growth in 2024. According to OPEC, world oil demand will increase by 1.93 million barrels per day (bpd) this year, down from the forecast of 2.03 million bpd growth last month. This demand cut is partly due to demand growth in China, the world's largest crude oil importer, which is forecast to decline from 650,000 bpd to 580,000 bpd. According to OPEC's forecast, global demand growth in 2025 will decrease from 1.74 million bpd to 1.64 million bpd.
Reuters cited data from China showing that China's crude oil imports in the first nine months of the year fell nearly 3% compared to the same period last year, to 10.99 million barrels/day due to increasing demand for electric vehicles in this East Asian country and slowing economic growth after the Covid-19 pandemic.
News of weaker demand overshadowed market concerns about the possibility that Israel's response to an Iranian missile attack earlier this month could disrupt oil production.
On October 13, the US said it would send troops and a missile defense system to Israel to enhance the country's air defense capabilities.
Dennis Kissler, senior vice president of trading at BOK Financial, commented: Although the possibility of an Israeli attack on Iran is very high, the latest US military reinforcements may have softened the response from both sides.
Regarding the volatility of oil prices, the vice president said: Trading will continue to be nervous as most fund managers remain on the sidelines.
The US dollar hit a nine-week high, also pushing oil prices lower during the session.
Domestic retail prices of gasoline on October 15 are as follows:
E5 RON 92 gasoline is not more than 19,846 VND/liter. RON 95-III gasoline is not more than 21,061 VND/liter. Diesel oil not more than 18,500 VND/liter. Kerosene not more than 18,790 VND/liter. Fuel oil not exceeding 15,911 VND/kg. |
The above domestic retail prices of gasoline and oil were adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of October 10. The price of RON 95-III gasoline increased the most, VND 1,258/liter, followed by kerosene price increased by VND 1,139/liter. Diesel price increased by VND 1,099/liter, E5 RON 92 gasoline increased by VND 996/liter and fuel oil increased the least, VND 908/kg.
In this operating period, the joint ministries did not set aside or use the Petroleum Price Stabilization Fund for E5 RON 92 gasoline, RON 95 gasoline, diesel oil, kerosene, and fuel oil.
Source: https://baoquocte.vn/gia-xang-dau-hom-nay-1510-nhuom-sac-do-290147.html
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