World oil prices
At 6:00 a.m. on November 19, Brent crude oil price increased by 2.26 USD, equivalent to 3.2%, to 73.3 USD/barrel. WTI crude oil price increased by 2.14 USD, equivalent to 3.2%, to 69.16 USD/barrel.
Oil prices rose again after news that crude production at Norway's Johan Sverdrup oil field had been halted.
Reuters quoted a spokesman for Norwegian energy group Equinor as saying that they had stopped production at the Johan Sverdrup oil field, Western Europe's largest, due to a power outage. Production restarts are being promoted, but no specific time is known.
Also on the supply side, oil production at Tengiz, Kazakhstan's largest oil field operated by US giant Chevron, has dropped by 28% to 30% due to repairs. According to Kazakhstan's Energy Ministry, the repairs will last until November 23.
Oil prices recover. (Photo: Punchg).
In addition, gasoline prices also recovered due to escalating tensions in the Russia-Ukraine conflict.
“ Biden’s authorization of Ukraine to attack Russian forces around Kursk with long-range missiles could bring geopolitical action back to the oil sector, as it would be an escalation of tensions there in response to North Korea’s military involvement in the war,” said IG market analyst Tony Sycamore .
So far, Russian oil exports have had little impact, but oil prices could rise further if Ukraine targets more oil infrastructure, said Saul Kavonic, energy analyst at MST Marquee.
Domestic gasoline prices
In the operating period on November 14, the price of E5 RON92 gasoline decreased by 292 VND/liter, not higher than 19,452 VND/liter. The price of RON95 gasoline decreased by 247 VND/liter, not higher than 20,607 VND/liter.
Prices of all types of oil also decreased simultaneously. Of which, diesel price decreased by 344 VND/liter, not higher than 18,573 VND/liter. Kerosene price decreased by 306 VND/liter, not higher than 18,988 VND/liter and fuel oil price decreased by 385 VND/kg, not higher than 16,009 VND/kg.
In this management period, the Ministry of Industry and Trade - Ministry of Finance continued not to set aside or use the petrol price stabilization fund for any products.
Source: https://vtcnews.vn/gasoline-price-today-11-19-hoi-phuc-sau-nhieu-phien-suy-giam-ar908189.html
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