Gasoline price today November 19: Recovering after many sessions of decline

World oil prices

At 6:00 a.m. on November 19, Brent crude oil price increased by 2.26 USD, equivalent to 3.2%, to 73.3 USD/barrel. WTI crude oil price increased by 2.14 USD, equivalent to 3.2%, to 69.16 USD/barrel.

Oil prices rose again after news that crude production at Norway's Johan Sverdrup oil field had been halted.

Reuters quoted a spokesman for Norwegian energy group Equinor as saying that they had stopped production at the Johan Sverdrup oil field, Western Europe's largest, due to a power outage. Production restart is being promoted, but the specific time is not clear.

Also related to supply, oil production at Tengiz, Kazakhstan's largest oil field operated by US-based Chevron, has dropped by 28% to 30% due to repairs. According to Kazakhstan's Energy Ministry, the repairs will last until November 23.

In addition, gasoline prices also recovered due to escalating tensions in the Russia-Ukraine conflict.

" Biden's authorization of Ukraine to attack Russian forces around Kursk with long-range missiles could see the geopolitical move return to the oil sector, as it would be an escalation of tensions there in response to North Korea's military entry into the war," said IG market analyst Tony Sycamore .

So far, Russian oil exports have seen little impact, but oil prices could rise further if Ukraine targets more oil infrastructure, said Saul Kavonic, energy analyst at MST Marquee.

Domestic gasoline prices

In the operating period on November 14, the price of E5 RON92 gasoline decreased by VND292/liter, not higher than VND19,452/liter. The price of RON95 gasoline decreased by VND247/liter, not higher than VND20,607/liter.

Prices of all types of oil also decreased simultaneously. Diesel oil price decreased by 344 VND/liter, not higher than 18,573 VND/liter. Kerosene price decreased by 306 VND/liter, not higher than 18,988 VND/liter and fuel oil price decreased by 385 VND/kg, not higher than 16,009 VND/kg.

In this management period, the Ministry of Industry and Trade - Ministry of Finance continues not to set aside or use the petroleum price stabilization fund for any products.

Ngoc Vy

Source: https://vtcnews.vn/gasoline-price-to-now-19-11-hoi-phuc-sau-nhieu-phien-suy-giam-ar908189.html