Gasoline prices on the world market continued to increase. Supply concerns pushed oil prices higher.
On the world market, today’s crude oil price continued to record an increase in the price of two popular oils.
According to data from Oilprice, at 9:24 am February 8 (Vietnam time), the price of Brent crude oil delivered in April was trading at 83.64 USD/barrel. WTI oil price delivered in March was trading at 77.2 USD/barrel.
At 7pm February 7 (Vietnam time), the price of Brent crude oil for April delivery was trading at 82.18 USD/barrel, up 1.19 USD, equivalent to 1.47% compared to the previous session. immediately before. WTI oil price delivered in March was traded at 75.34 USD/barrel, up 1.23 USD, equivalent to 1.66% compared to the previous session.
Oil prices rose as supply concerns continued to affect the market.
The market expects consumption demand in China to increase after the country relaxes measures to limit the Covid-19 epidemic.
Petrol prices continue to increase (Photo: Thanh Tung)
The International Energy Agency (IEA) chief executive expects half of global oil demand growth this year to come from China, adding that the country’s jet fuel demand is shrinking.
Besides, investors are also worried about the supply continue to affect the market when the recent earthquake in Turkey has caused the flow of oil to the export port of Ceyhan, with a capacity of more than 1 million barrels / day, on the Mediterranean coast, is interrupted.
Oil’s gains, however, could be capped by information from a preliminary Reuters poll that showed U.S. crude stockpiles likely rose by about 2.2 million barrels last week.
In addition, the increase in oil price was also limited by the strong breakthrough of the USD. The dollar has now risen to a three-week high against the euro. A stronger greenback increases the cost of investing and trading physical goods for crude oil.
In addition, exchange rate pressure also makes US crude oil exports more expensive for partners and affects consumption demand.
In the domestic market, the selling price of petrol and oil on February 8 is applied according to the price of the January 30 executive session of the Inter-Ministry of Finance – Ministry of Industry and Trade.
Accordingly, gasoline E5 RON 92 increased by 970 VND / liter, the selling price was 22,320 VND / liter. RON95 gasoline increased by 990 VND / liter, to 23,140 VND / liter. Diesel oil increased by 890 VND/liter, selling price was 22,520 VND/liter. The price of kerosene is 22,576 VND/liter, the price of fuel oil is 13,934 VND/liter.
@Vietnamnet
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Source: Vietnam Insider