Oil prices today, January 17, ended the trading session on January 16, oil prices plummeted, affected by the possibility that Yemen's Houthi forces would stop attacks on ships in the Red Sea and as investors were considering strong US retail data.
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| Oil prices today, January 17, ending the trading session on January 16, oil prices plummeted as investors considered strong US retail sales data. (Source: Reuters) |
Brent crude fell 74 cents, or 0.9 percent, to $81.29 a barrel. WTI crude fell $1.36, or 1.7 percent, to $78.68 a barrel.
According to Reuters , maritime security officials expect the Houthis to announce a halt to attacks on ships in the Red Sea after Israel and Hamas reached a ceasefire agreement.
Over the past year, Houthi attacks have disrupted shipping, forcing companies to take longer and more expensive routes around southern Africa.
Commenting on the sudden plunge after surging to its highest level since July 2024 in the previous session, John Kilduff, partner at Again Capital in New York, said: “The developments surrounding the Houthi decision and the ceasefire in Gaza have helped to ease the security burden on oil prices.
However, investors remained cautious as the Houthi leader said the group would monitor the implementation of the ceasefire agreement and continue to attack ships or Israel if the agreement was violated.
US Secretary of State Antony Blinken said that, as planned, the ceasefire in the Gaza Strip will take effect from January 19. But according to world media, the Israeli cabinet has not yet approved this ceasefire.
Also on January 16, the US Department of Commerce reported that US retail sales in December increased, showing strong demand in the US.
WTI crude oil prices held on to losses during the trading session after investors interpreted the data as reinforcing the US Federal Reserve's cautious approach to cutting interest rates this year.
But prices recovered after Fed Governor Christopher Waller said inflation was likely to continue to decline and could allow the US central bank to cut interest rates sooner and more quickly than expected.
The market is “waiting and watching” for the new US administration’s response to a new package of sanctions targeting Russian oil.
Domestic retail prices of gasoline on January 17 are as follows:
E5 RON 92 gasoline is not more than 20,431 VND/liter. RON 95-III gasoline is not more than 21,019 VND/liter. Diesel oil not more than 19,243 VND/liter. Kerosene not more than 19,244 VND/liter. Fuel oil not exceeding 16,182 VND/kg. |
The above domestic retail price of gasoline was adjusted by the Ministry of Finance - Industry and Trade at the price management session on the afternoon of January 16.
As world oil prices continued to rise last week, domestic oil prices have recorded a hat-trick of increases. E5 RON 92 gasoline prices increased by VND319/liter, RON 95-III gasoline increased by VND201/liter, diesel increased by VND539/liter, and kerosene increased by VND462/liter. Notably, fuel oil skyrocketed by VND999/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-171-lao-doc-301234.html
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