On May 23, oil prices continued to fall by more than 1%, with Brent crude falling 98 cents, or 1.18%, to $81.90 a barrel. US WTI crude fell $1.09, or 1.39%, to $77.57 a barrel.
According to the minutes of the Federal Reserve's April 30-May 1 policy meeting released yesterday (May 22), US policymakers believe that price pressures will ease in the coming months, but there are doubts about whether current interest rates are high enough to ensure that outcome. Some even said they were ready to raise borrowing costs again if inflation rises.
Domestic gasoline prices may increase slightly this afternoon
NHAT THINH
Also in the US, the Energy Information Administration (EIA) said that crude oil inventories last week increased by 1.8 million barrels, compared with analysts' expectations for a decrease of 2.5 million barrels and lower than the American Petroleum Institute's data for an increase of 2.48 million barrels. In contrast, US gasoline inventories decreased by 900,000 barrels.
Analysts say the factors supporting oil prices today are quite weak. This may force the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to extend production cuts at their June meeting to support prices.
OPEC+ is currently cutting production by 5.86 million barrels per day, or about 5.7% of global demand. The cuts include 3.66 million barrels per day by OPEC+ members until the end of the year and 2.2 million barrels per day from voluntary cuts by some members that expire at the end of June.
World oil prices last week only increased slightly by 1-2%, however, 3 consecutive sessions of decline since the beginning of the week until now have caused domestic prices in this afternoon's price adjustment period to fluctuate in opposite directions. Gasoline prices are forecast to increase slightly, by a maximum of 100 VND/liter; oil prices will decrease by about 100-300 VND/liter/kg. This forecast does not include the Petroleum Price Stabilization Fund and fees, if any changes.
On the morning of May 23, the retail prices of popular petroleum products in the domestic market were as follows: E5 RON 92 gasoline not exceeding VND 22,115/liter; RON 95-III gasoline not exceeding VND 23,135/liter; diesel oil not exceeding VND 19,873/liter; kerosene not exceeding VND 19,908/liter and fuel oil not exceeding VND 17,418/kg./.
Nguyen Nga (According to Thanh Nien)
Source: https://thanhnien.vn/gia-xang-dau-hom-nay-2352024-xang-trong-nuoc-chieu-nay-tang-185240523075035343.htm
Source
Comment (0)