Today's oil price, February 17, last week, oil prices were affected by many factors that increased and decreased. The US economy is expected to continue to affect oil prices this week.
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| Today's oil price, February 17. Last week, oil prices were affected by many factors that increased and decreased. (Source: Oilprice) |
These factors include concerns about oil supply shortages from Russia and Iran following US sanctions; concerns that the fragile ceasefire in the Gaza Strip will end; the US considering reciprocal tariffs on countries that impose tariffs on US goods; continued increases in US oil inventories; and the prospect of a peace deal between Russia and Ukraine.
In the five trading sessions, oil prices rose in two sessions and recorded a hat-trick of declines in the remaining sessions. Oil prices ended the week with Brent crude up 0.11%, ending a three-week losing streak; WTI crude fell about 0.37%, extending its weekly decline.
Last week, data from the US Department of Labor's Bureau of Labor Statistics showed that US inflation rose sharply in January by 0.5%, up 0.1% from December 2024. The increase in inflation raised concerns that the US economy was overheating and dampened hopes of interest rate cuts.
Before the data was released, Federal Reserve Chairman Jerome Powell said the US economy was in good shape and the Fed was in no rush to cut interest rates further, but was ready to cut rates if inflation fell or the job market weakened.
Strong inflation reduces the likelihood of the Fed cutting interest rates between September and December, according to senior analyst Phil Flynn of Price Futures Group.
Walmart's quarterly report this week will give investors new insight into U.S. consumers, who are facing higher inflation and uncertainty about whether President Donald Trump's tariffs will push up prices, Reuters reported.
The Walmart report could show how rising food and gas or energy prices are affecting consumer spending, said Robert Pavlik, senior portfolio manager at Dakota Wealth.
This week, in addition to the above report, the market may be affected by the minutes of the Fed's most recent monetary policy meeting, the US weekly jobless claims report, the Philadelphia Federal Reserve manufacturing survey, the S&P flash purchasing managers index (PMI) and US existing home sales.
Domestic retail prices of gasoline on February 17 are as follows:
E5 RON 92 gasoline is not more than 20,598 VND/liter. RON 95-III gasoline is not more than 21,074 VND/liter. Diesel oil not more than 19,073 VND/liter. Kerosene not more than 19,473 VND/liter. Fuel oil not exceeding 17,779 VND/kg. |
The above domestic retail prices of gasoline and oil were adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of February 13. Although world gasoline and oil prices decreased last week, they increased in the first trading sessions, so domestic gasoline and oil prices ended the decreasing streak and started to increase. The price of E5 RON 92 gasoline increased by 156 VND/liter, RON 95-III gasoline increased by 146 VND/liter, diesel increased by 19 VND/liter, kerosene increased by 59 VND/liter, and fuel oil increased by 425 VND/kg.
In this management period, the joint ministries continue not to set aside or use the Petroleum Price Stabilization Fund for E5 RON 92 gasoline, RON 95 gasoline, diesel oil, kerosene, and fuel oil.
Source: https://baoquocte.vn/gasoline-price-today-172-kinh-te-my-tiep-tuc-tac-dong-len-gia-dau-tuan-nay-304592.html
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