International gas costs greater moderately at first of the buying and selling consultation on October 16 after a “unstoppable slide” of greater than 4%.
International oil costs
Consistent with Oilprice, at 5:30 a.m. on October 16 (Vietnam time), WTI oil worth greater moderately through 0.5%. Brent oil worth is “anchored” at 74.25 USD/barrel.
Remaining the buying and selling consultation on October 15, oil costs fell greater than 4% to their lowest stage in just about 2 weeks because of weaker call for possibilities and issues about provide disruptions from the Center East easing after the marketplace receiving data that Israel won’t assault Iran’s oil and nuclear amenities.
Oil costs became up moderately at first of the buying and selling consultation on October 16. Representation photograph: Reuters
Brent oil worth lowered through 3.21 USD, similar to 4.14%, to 74.25 USD/barrel. WTI oil worth lowered through 3.25 USD, similar to 4.4%, to 70.58 USD/barrel.
Particularly, right through the consultation, each benchmark oil merchandise at one level fell through as much as 4 USD to their lowest stage since early October.
Commenting at the “unstoppable slide” of oil costs for the reason that starting of the week, Phil Flynn, senior analyst at Value Futures Team, mentioned the marketplace is witnessing the removing of amassed warfare premiums. final week. Consistent with this analyst, the problem this is in fact now not about provide however about dangers to offer and insist.
In simply the primary two buying and selling classes of the week, Brent and WTI oil costs have “misplaced” about 5 USD, virtually erasing the amassed positive factors completed after traders frightened that Israel may assault their oil amenities. Iran in retaliation for Tehran’s missile assault on October 1.
Consistent with the Washington Put up, Israeli Top Minister Benjamin Netanyahu mentioned Israel is able to assault Iran’s army goals, now not nuclear or oil goals.
Sharing the similar opinion as OPEC, the IEA additionally forecasts that international oil call for will lower this yr. Representation photograph: Reuters
Referring to call for, just like the Group of Petroleum Exporting International locations (OPEC), the World Power Company (IEA) has additionally lower its forecast for international oil call for enlargement in 2024 bringing up call for. susceptible from China. The IEA forecasts that global oil call for this yr will build up through 860,000 barrels/day, down 40,000 barrels/day in comparison to the former forecast. Alternatively, the company believes that oil call for in 2025 will build up through 1 million barrels/day, about 50,000 barrels/day upper than forecast final month.
Home gas costs
Home retail gas costs on October 16 are as follows:
E5 RON 92 gas prices not more than 19,846 VND/liter.
RON 95-III gas prices not more than 21,061 VND/liter.
Diesel oil is no more than 18,500 VND/liter.
Kerosene prices not more than 18,790 VND/liter.
Gasoline oil is no more than 15,911 VND/kg.
The above discussed home retail gas costs shall be adjusted through the Ministry of Finance and Business and Business collectively on the worth control consultation at the afternoon of October 17. Even though global gas costs greater final week, in fresh buying and selling classes, costs have dropped sharply, so it’s most probably that home gas costs will opposite and reduce.
In the newest worth control length, the cost of E5 RON 92 gas greater through 996 VND/liter, RON 95-III gas greater through 1,258 VND/liter, diesel greater through 1,099 VND/liter, kerosene greater through 1,139 VND/liter, and gas oil greater. 908 VND/kg.
MAI HUONG