Oil and gas prices today September 22nd: Decline sharply

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In the context of an increase in Covid-19 epidemic in some countries and oil supply is expected to increase, the price of gasoline today fell sharply, of which Brent oil slipped to 42 USD / barrel.

As of early the morning of September 22^nd, Vietnam time, on the New York Mercantile Exchange, the WTI light sweet crude oil delivered in November 2020 was $ 39.88 / barrel, up $ 0.34 / barrel in the session. However, if compared with the same time on September 21^st, WTI oil price delivered in November 2020 decreased to 1.19 USD / barrel.

Meanwhile, the price of Brent oil delivered in November 2020 was 41.75 USD / barrel, increased by 0.31 USD / barrel in the session but decreased to 1.18 USD / barrel compared to the same time on September 19^th.

Oil prices on September 22^nd fell sharply mainly due to concerns about the increase in the supply of crude oil, while the demand for consumption was slow to improve because of the negatively affect by the Covid-19 epidemic.

Analysts said that, despite the fact that countries are planning to deploy Covid-19 vaccine on a large scale, it is difficult to be optimistic about oil prices when large economies such as Spain, England, France and the United States are still facing the warning of another outbreak in the fall and winter.

On the supply side, according to information released, the National Petroleum Corporation of Libya has partially removed the “force majeure” and allowed workers at some fields to start working again.

However, today’s oil prices were also supported by US operations in the Gulf of Mexico that had to drop as Tropical Storm Beta passed.

In the domestic market, today’s oil and gas prices are listed as follows: The gasoline price E5 RON 92 is not higher than 14,266 VND / liter (down 143 VND / liter compared to the current price); RON 95-III gasoline price is not higher than 14,984 VND / liter (down 130 VND / liter); 0.05S diesel oil is not higher than 11,518 VND / liter (down 443 VND / liter); kerosene is not higher than 9,593 VND / liter (down 532 VND / liter); mazut oil 180CST 3.5S not more than 10,943 VND / kg (down 240 VND / kg).