Bangkok: The newspaper revealed that the price of crude oil on the world market remains stable at a high level. Due to supply concerns in the Middle East after the conflict situation continues to be intense.
Mr. Weerapat Kiatfuengfu The Director of the Energy Policy and Planning Office (EEP) has been following the situation of fuel prices in the world market and found that crude oil prices remain stable at a high level due to supply concerns in the Middle East after the conflict situation continues to be intense. Most recently, the Houthis attacked oil tankers in the Red Sea again. As for the fighting in Gaza, Israel has given an ultimatum to Hamas to release the hostages by March 10, 2024. However, keep an eye on the Iranian nuclear program. Most recently, the head of the International Atomic Energy Agency The International Atomic Energy Agency IAEA said Iran continues to enrich uranium beyond commercial nuclear needs despite UN pressure to stop.
Mr. Weerapat said that the overall situation of world oil pr
ices (Between 12 – 18 February 2024) Dubai crude oil price The average level was 81.74 USD per barrel. Increased from last week by 2.88 USD per barrel. Meanwhile, West Texas crude oil averaged at 77.73 USD per barrel. Increased from last week’s rate of 3.13 USD per barrel. The group of crude oil producers (OPEC) has raised its forecast for global economic growth in 2024 from 2.6% to 2.7% after forecasting inflation. of the United States is likely to slow down, however, OPEC still forecasts world oil demand growth in 2024 at 2.25 million barrels/day. As for the situation of the average price of refined oil in the Asian market, it was found that the average price of 95 octane gasoline was at 101.81 USD per barrel. Increased from last week by 3.02 USD per barrel. The price of high-speed diesel (10 PPM) averaged at 109.14 USD per barrel. Increased from last week by 2.29 USD per barrel.
This is because the value of the Thai baht depreciated from last week by 0.30 baht per US dollar. came to an average level of 36
.17 baht per US dollar This causes the cost of gasoline to increase by 0.87 baht per liter and the cost of diesel to increase by 0.72 baht per liter, resulting in the weighted average marketing value of gasoline. and diesel fuel is at the level of 2.31 baht per liter.
In this regard, the oil fund position as of February 18, 2024, the fund has total assets of 29,335 million baht, fund liabilities of 119,217 million baht, net fund position is negative 89,882 million baht, divided into negative from oil account 43,275 million baht, LPG account 46,607 million baht
Source: Thai News Agency