World oil prices
At 6:00 a.m. on October 23, Brent oil price was at 76.04 USD/barrel, up 1.75 USD/barrel compared to yesterday. WTI oil price was listed at 72.09 USD/barrel, up 1.53 USD/barrel.
Oil prices continued to rise as investors had little hope for a ceasefire in the Middle East.
Accordingly, so far, Israel has shown no signs of making concessions in its operations in Gaza and Lebanon, while Hezbollah has ruled out the possibility of negotiations while fighting with Israel continues.
Beijing’s recent efforts to revive its slowing economy have led some analysts to raise expectations for oil demand in China, the world’s largest crude importer, Reuters reported. Weak demand from China has sent oil prices tumbling in recent months.
Gasoline prices continue to rise. (Photo: Minh Duc).
StoneX analyst Alex Hodes also said that any improvement in economic growth in China would boost fuel consumption, but it could take some time for the stimulus efforts to have an impact on oil demand.
China on October 22 set its crude oil import quota for 2025 at 257 million tonnes (5.14 million barrels per day), up from this year's 243 million tonnes.
Meanwhile, data from the American Petroleum Institute showed that US crude inventories rose by 1.64 million barrels in the week ending October 18, compared with analysts' forecasts for a 700,000-barrel increase. US gasoline and distillate inventories fell by 2.019 million barrels and 1.478 million barrels, respectively.
Domestic gasoline prices
In the operating period on October 17, the price of E5 RON92 gasoline decreased by 116 VND/liter, not higher than 19,730 VND/liter. The price of RON95 gasoline decreased by 99 VND/liter, not higher than 20,962 VND/liter.
Diesel price decreased by 179 VND/liter, to 18,321 VND/liter. Kerosene price decreased by 163 VND/liter, not higher than 18,627 VND/liter. Only fuel oil price increased by 179 VND/kg, to 16,090 VND/kg.
During this period, the executive agency continued not to set aside or use the price stabilization fund for all goods.
Source: https://vtcnews.vn/gasoline-price-today-23-10-tiep-tuc-di-len-ar903305.html
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