World oil prices
At 6:00 AM on December 9th, Brent crude oil prices fell by $0.07, or 0.1%, to $71.05 per barrel. WTI crude oil prices fell by $0.06, or 0.09%, to $67.14 per barrel.
At its December 5 meeting, OPEC+ announced it would gradually lift the 2.2 million barrels per day production cut starting in April 2025 with monthly increases of 138,000 barrels per day, over a period of 18 months until September 2026.
Bob Yawger, director of energy futures contracts at Mizuho, commented: "The market is facing an oil surplus."
In addition, Reuters reported that Israel continues to attack Hezbollah, ignoring the ceasefire agreement that took effect on November 27. According to UBS analyst Giovanni Staunovo, the risks to the ceasefire are increasing concerns among some oil traders about tensions in the Middle East.
In fact, the conflict in Lebanon has not caused any disruption to oil supplies, but traders are still closely monitoring tensions between Iran and Israel in the coming months.
Oil prices continue to fall. (Photo: Punchg)
Last week, a report from the U.S. Energy Information Agency showed that while U.S. crude oil inventories fell by 5.1 million barrels due to increased refinery activity, U.S. gasoline and distillate inventories increased by 2.4 million barrels and 3.4 million barrels, respectively.
Regarding the OPEC+ decision, Oilprice stated that it was due to continued high supply from outside OPEC+ and low demand from China. However, Bank of America expects oil demand to recover to 1 million barrels per day next year.
Domestic fuel prices
In the price adjustment on December 5th, the price of E5 RON92 gasoline increased by 24 VND/liter, not exceeding 19,864 VND/liter. The price of RON95 gasoline decreased by 294 VND/liter, not exceeding 20,563 VND/liter.
Meanwhile, the price of diesel decreased by 395 VND/liter, not exceeding 18,382 VND/liter. The price of kerosene decreased by 325 VND/liter, not exceeding 18,817 VND/liter. The price of fuel oil remained unchanged at 16,125 VND/kg, the same as the previous period.
During this period, the regulatory agency continued to neither allocate funds nor utilize the fuel price stabilization fund for all commodities.
Source: https://vtcnews.vn/gia-xang-dau-hom-nay-9-12-tiep-tiep-di-xuong-ar912335.html
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