Oil prices today November 19, 2024: Oil prices increased by more than 2 USD/barrel after information that crude oil production at Norway's Johan Sverdrup oil field was stopped.
Gasoline price today November 19, 2024
Recorded on Oilprice at 5:00 a.m. on November 19, 2024 (Vietnam time), WTI oil price was at 69.16 USD/barrel, up 3.19% (equivalent to an increase of 2.14 USD/barrel).
 |
| WTI oil price on the world market in the early morning of November 19, 2024 (Vietnam time) |
Similarly, Brent oil price was at 73.34 USD/barrel, up 3.24% (equivalent to an increase of 2.30 USD/barrel).
 |
| Brent oil price on the world market early morning of November 19, 2024 (Vietnam time) |
Oil prices rose more than $2 a barrel after news that crude production at Norway's Johan Sverdrup oil field had been halted, continuing earlier gains due to escalating tensions in the Russia-Ukraine conflict.
Equinor said it had halted production from its Johan Sverdrup oil field, Western Europe’s largest, due to an onshore power outage. An Equinor spokesman said work was underway to restart production, but it was unclear when it would resume.
Oil prices continued to rise on news of the outage, suggesting a tightening of the North Sea crude market, UBS analyst Giovanni Staunovo told Reuters. Actual crude supplies from the North Sea supported Brent futures.
Kazakhstan's largest oil field, Tengiz, operated by U.S. major Chevron, has cut oil output by 28%-30% due to ongoing repairs, further tightening global supplies. The country's energy ministry said the repairs were expected to be completed by Saturday.
Prices also rose as Russia's conflict in Ukraine escalated over the weekend.
“ Biden’s authorization of Ukraine to attack Russian forces around Kursk with long-range missiles could see geopolitical moves return 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.
Russia launched its biggest air strike on Ukraine in nearly three months on Sunday, causing severe damage to the country's power grid.
Brent and WTI fell more than 3% last week on weak data on Chinese refining capacity and after the International Energy Agency forecast global oil supply would exceed demand by more than 1 million barrels per day by 2025, even as OPEC+ continues to cut production.
Traders began moving WTI into the January contract ahead of the December contract’s expiration on Wednesday. The spread between the two contracts inverted for the first time since February into a contango structure, with the later contract trading higher than the previous contract, meaning traders expect prices to rise.
“ The expiration is going to be very unexpected ,” said Bob Yawger, director of energy futures at Mizuho.
Domestic retail gasoline prices on November 19, 2024 will be applied according to the adjustment session from 3:00 p.m. on November 14 by the Ministry of Finance - Ministry of Industry and Trade.
Item | Price (VND/liter/kg) | Difference from previous period |
E5 RON 92 gasoline | 19,452 | -292 |
RON 95 gasoline | 20,607 | -247 |
Diesel | 18,573 | -344 |
Oil | 18,988 | -306 |
Fuel oil | 16,009 | -385 |
Specifically, the price of E5 RON 92 gasoline decreased by VND292/liter, down to VND19,452/liter; RON 95 gasoline decreased by VND247/liter, down to VND20,607/liter.
Diesel 0.05S price: Decreased by 344 VND/liter, down to 18,573 VND/liter; Kerosene decreased by 306 VND/liter, down to 18,988 VND/liter; Mazut 180CST 3.5S decreased by 385 VND/kg, down to 16,009 VND/kg.
 |
| Gasoline price today November 19, 2024. Illustration photo |
In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.
Thus, from the beginning of 2024 to now, domestic gasoline prices have undergone 45 adjustment sessions, including 22 decrease sessions, 18 increase sessions and 6 opposite sessions.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-19112024-gia-dau-bat-tang-3-359563.html
Comment (0)