Tensions between the US and China increased, reducing the expectation of global economic recovery, thereby causing oil and gas prices today tended to decrease slightly.
As the early morning of September 21st, Vietnam time, on the New York Mercantile Exchange, the WTI light sweet crude oil delivered in November 2020 was at $ 41.07 / barrel, down $ 0.25 / barrel in the session.
Meanwhile, Brent oil price delivered in November 2020 was at 42.93 USD / barrel, down 0.22 USD / barrel in the session.
Oil prices on September 2st tended to decrease slightly, mainly because the market was concerned that the escalation of US-China tensions would negatively affect the global economic picture, thereby reducing the recovery of demand for consumption, of course, including crude oil.
The US Department of Commerce announced on September 18th that the download of TikTok and WeChat apps in the US will be banned from September 20th. Meanwhile, users in the US who have downloaded these apps can continue to use them, but with a new restriction, you cannot download app updates.
TikTok is a Chinese social network. This is a music video network channel released by news app Jinri Toutiao founded in 2016. The way this social network works is quite simple, most videos are short, usually no more than 15 seconds.
As a response, the Ministry of Commerce of China has just published a detailed blacklist of “untrusted entities” that will be banned from trading and investing in China. Accordingly, companies and individuals on the blacklist will be restricted or banned from trading – both imports and exports – with China and cannot invest in the country.
However, today’s oil prices are still being supported by a series of positive information broadcast in the last week’s session. That is the US crude oil reserves and the country’s shale oil production plummeted. FED will maintain its financial policy in the coming time and is ready to have new support packages if necessary. It is also the fact that many countries simultaneously announced that they would soon deploy Covid-19 vaccination on a large scale.
In addition, oil prices on September 21st were also supported by OPEC + increasing pressure on countries to enforce production reduction agreements.
According to Dow Jones Market data, last week, WTI oil price increased by 10.1%, the strongest weekly increase since the week ending on June 5, while Brent oil price increased by 8.3%, the strongest increase. from the week ending June 19.
In the domestic market, today’s oil and gas prices are 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).