{"id":9982,"date":"2026-10-26T09:06:39","date_gmt":"2026-10-26T09:06:39","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=9982"},"modified":"2026-10-26T09:06:42","modified_gmt":"2026-10-26T09:06:42","slug":"crude-oil-is-intrinsically-linked-to-the-global-macro-landscape-supported-by-three-key-factors-transportation-losses-lean-inventories-and-geopolitical-optionality","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/vi\/crude-oil-is-intrinsically-linked-to-the-global-macro-landscape-supported-by-three-key-factors-transportation-losses-lean-inventories-and-geopolitical-optionality\/","title":{"rendered":"V\u1ec1 b\u1ea3n ch\u1ea5t, d\u1ea7u th\u00f4 c\u00f3 m\u1ed1i li\u00ean h\u1ec7 m\u1eadt thi\u1ebft v\u1edbi b\u1ed1i c\u1ea3nh v\u0129 m\u00f4 to\u00e0n c\u1ea7u, \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi ba y\u1ebfu t\u1ed1 ch\u00ednh: t\u1ed5n th\u1ea5t v\u1eadn chuy\u1ec3n, t\u1ed3n kho \u00edt v\u00e0 t\u00ednh t\u00f9y ch\u1ecdn \u0111\u1ecba ch\u00ednh tr\u1ecb."},"content":{"rendered":"

Xu\u1ea5t kh\u1ea9u \u0111\u00e3 ph\u1ee5c h\u1ed3i h\u01a1n 90% m\u1ee9c tr\u01b0\u1edbc chi\u1ebfn tranh, tuy nhi\u00ean d\u1ea7u th\u00f4 Brent v\u1eabn \u1edf m\u1ee9c g\u1ea7n 108 USD. C\u00e2u tr\u1ea3 l\u1eddi cho ngh\u1ecbch l\u00fd n\u00e0y kh\u00f4ng n\u1eb1m \u1edf s\u1ea3n xu\u1ea5t m\u1ecf d\u1ea7u m\u00e0 n\u1eb1m \u1edf s\u1ef1 c\u1ed9ng h\u01b0\u1edfng g\u1ea5p ba c\u1ee7a s\u1ef1 k\u00e9m hi\u1ec7u qu\u1ea3 c\u1ee7a h\u1ec7 th\u1ed1ng giao th\u00f4ng v\u1eadn t\u1ea3i, kho d\u1ef1 tr\u1eef c\u1ea1n ki\u1ec7t v\u00e0 r\u1ee7i ro \u0111\u1ecba ch\u00ednh tr\u1ecb v\u1ec1 gi\u00e1 c\u1ea3. Nh\u1eefng c\u00fa s\u1ed1c t\u1eeb th\u1ecb tr\u01b0\u1eddng d\u1ea7u th\u00f4 \u0111ang lan t\u1ecfa ra b\u00ean ngo\u00e0i, tr\u1edf th\u00e0nh bi\u1ebfn s\u1ed1 c\u01a1 b\u1ea3n k\u1ebft n\u1ed1i l\u1ea1m ph\u00e1t c\u1ee7a M\u1ef9 v\u00e0 ch\u00e2u \u00c2u, c\u00e1c quy\u1ebft \u0111\u1ecbnh c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng v\u00e0 bi\u1ebfn \u0111\u1ed9ng n\u1ee3 ch\u00ednh ph\u1ee7; Vi\u1ec7c xem x\u00e9t h\u00e0ng h\u00f3a v\u00e0 kinh t\u1ebf v\u0129 m\u00f4 m\u1ed9t c\u00e1ch t\u00e1ch bi\u1ec7t ch\u1eafc ch\u1eafn s\u1ebd d\u1eabn \u0111\u1ebfn nh\u1eefng \u0111\u00e1nh gi\u00e1 thi\u00ean v\u1ecb.<\/p>\n

C\u01a1 c\u1ea5u gi\u00e1 c\u01b0\u1edbc v\u1eadn t\u1ea3i t\u0103ng v\u1ecdt: T\u1ed5ng c\u00f4ng su\u1ea5t d\u01b0 th\u1eeba, c\u00f4ng su\u1ea5t hi\u1ec7u d\u1ee5ng tr\u1edf th\u00e0nh n\u00fat th\u1eaft c\u1ee9ng nh\u1eafc.<\/h2>\n

S\u1ef1 t\u0103ng gi\u00e1 c\u01b0\u1edbc v\u1eadn chuy\u1ec3n kh\u00f4ng ph\u1ea3i l\u00e0 ph\u00ed b\u1ea3o hi\u1ec3m r\u1ee7i ro m\u1ed9t l\u1ea7n t\u1eeb eo bi\u1ec3n Hormuz, m\u00e0 l\u00e0 k\u1ebft qu\u1ea3 c\u1ee7a n\u0103m y\u1ebfu t\u1ed1: ph\u00ed b\u1ea3o hi\u1ec3m r\u1ee7i ro chi\u1ebfn tranh kho\u1ea3ng 7 USD\/th\u00f9ng khi \u0111i qua eo bi\u1ec3n, 4 USD\/th\u00f9ng cho vi\u1ec7c chuy\u1ec3n t\u1ea3i t\u1eeb t\u00e0u n\u00e0y sang t\u00e0u kh\u00e1c, 4 USD\/th\u00f9ng cho chi ph\u00ed nhi\u00ean li\u1ec7u h\u00e0ng h\u1ea3i, 3 USD\/th\u00f9ng cho vi\u1ec7c chuy\u1ec3n h\u01b0\u1edbng tuy\u1ebfn \u0111\u01b0\u1eddng kh\u00f4ng hi\u1ec7u qu\u1ea3 v\u00e0 2 USD\/th\u00f9ng do c\u1eaft gi\u1ea3m s\u1ed1 l\u01b0\u1ee3ng t\u00e0u ch\u1edf d\u1ea7u c\u00f3 s\u1eb5n cho Iran. Chi ph\u00ed v\u1eadn chuy\u1ec3n d\u1ea7u th\u00f4 trung b\u00ecnh to\u00e0n c\u1ea7u \u0111\u00e3 t\u0103ng t\u1eeb 3 USD\/th\u00f9ng c\u00e1ch \u0111\u00e2y m\u1ed9t n\u0103m l\u00ean h\u01a1n 20 USD, trong \u0111\u00f3 c\u00e1c tuy\u1ebfn \u0111\u01b0\u1eddng Trung \u0110\u00f4ng quan tr\u1ecdng v\u01b0\u1ee3t qu\u00e1 35 USD\/th\u00f9ng.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20261026_154454\"<\/p>\n

Kh\u00eda c\u1ea1nh kh\u00f3 hi\u1ec3u nh\u1ea5t l\u00e0 g\u1ea7n m\u1ed9t n\u1eeda s\u1ed1 t\u00e0u ch\u1edf d\u1ea7u th\u00f4 r\u1ea5t l\u1edbn (VLCC) tr\u1ed1ng r\u1ed7ng, tuy nhi\u00ean gi\u00e1 c\u01b0\u1edbc v\u1eabn ti\u1ebfp t\u1ee5c t\u0103ng cao. Nguy\u00ean nh\u00e2n s\u00e2u xa l\u00e0 do n\u0103ng l\u1ef1c \u0111\u1ed9i t\u00e0u kh\u00f4ng ph\u00f9 h\u1ee3p \u2013 \u0111\u1ec3 tr\u00e1nh r\u1ee7i ro \u1edf eo bi\u1ec3n \u0110\u00e0i Loan, m\u1ed9t s\u1ed1 l\u01b0\u1ee3ng l\u1edbn t\u00e0u ch\u1edf d\u1ea7u bu\u1ed9c ph\u1ea3i chuy\u1ec3n h\u00e0ng t\u1eeb t\u00e0u n\u00e0y sang t\u00e0u kh\u00e1c, k\u00e9o d\u00e0i chu k\u1ef3 kh\u1ee9 h\u1ed3i c\u1ee7a c\u00e1c t\u00e0u VLCC t\u1eeb 10 ng\u00e0y l\u00ean 23 ng\u00e0y. Trong khi t\u1ed5ng s\u1ed1 t\u00e0u kh\u00f4ng gi\u1ea3m, n\u0103ng l\u1ef1c v\u1eadn chuy\u1ec3n hi\u1ec7u qu\u1ea3 \u0111\u1ec3 \u0111\u00e1p \u1ee9ng k\u1ecbp th\u1eddi vi\u1ec7c mua nh\u00e0 m\u00e1y l\u1ecdc d\u1ea7u \u0111\u00e3 c\u1ea1n ki\u1ec7t \u0111\u00e1ng k\u1ec3 v\u00e0 vi\u1ec7c t\u0103ng gi\u00e1 \u0111\u00e3 lan sang c\u00e1c tuy\u1ebfn \u0111\u01b0\u1eddng b\u00ean ngo\u00e0i Trung \u0110\u00f4ng. B\u1eb1ng ch\u1ee9ng kinh t\u1ebf v\u0129 m\u00f4 x\u00e1c nh\u1eadn \u0111i\u1ec1u n\u00e0y: ngay c\u1ea3 khi ngu\u1ed3n cung t\u1eeb c\u00e1c khu v\u1ef1c s\u1ea3n xu\u1ea5t ph\u1ee5c h\u1ed3i, chi ph\u00ed ph\u00e2n ph\u1ed1i t\u0103ng m\u1ea1nh v\u1eabn s\u1ebd t\u1ea1o c\u01a1 s\u1edf cho l\u1ea1m ph\u00e1t nh\u1eadp kh\u1ea9u tr\u00ean to\u00e0n c\u1ea7u. \u0110\u00e2y l\u00e0 nguy\u00ean nh\u00e2n ch\u00ednh g\u00e2y ra l\u1ea1m ph\u00e1t dai d\u1eb3ng \u1edf M\u1ef9 v\u00e0 ch\u00e2u \u00c2u, \u0111\u1ed3ng th\u1eddi c\u0169ng l\u00e0m t\u0103ng th\u00eam \u00e1p l\u1ef1c th\u1eaft ch\u1eb7t l\u00ean C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang v\u00e0 Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng ch\u00e2u \u00c2u.<\/p>\n

Ph\u1ee5c h\u1ed3i xu\u1ea5t kh\u1ea9u v\u00e0 \u0111\u1ea3o chi\u1ec1u gi\u00e1: Ba b\u1ebf t\u1eafc c\u1ea3n tr\u1edf vi\u1ec7c truy\u1ec1n cung l\u00ean gi\u00e1<\/h2>\n
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  1. \u0110\u1ea7u ti\u00ean, nh\u1eefng \u0111\u01b0\u1eddng v\u00f2ng trong h\u1eadu c\u1ea7n d\u1eabn \u0111\u1ebfn chi ph\u00ed c\u1ee9ng nh\u1eafc. C\u00e1c tuy\u1ebfn \u0111\u01b0\u1eddng v\u1eadn chuy\u1ec3n th\u00f4ng th\u01b0\u1eddng v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c kh\u00f4i ph\u1ee5c v\u00e0 d\u1ea7u th\u00f4 ph\u1ea3i ph\u1ee5 thu\u1ed9c v\u00e0o \u0111\u01b0\u1eddng \u1ed1ng, trung chuy\u1ec3n ph\u00e0 v\u00e0 \u0111\u1ed9i t\u00e0u ng\u1ea7m \u0111\u1ec3 l\u01b0u th\u00f4ng. C\u00f9ng v\u1edbi c\u00e1c cu\u1ed9c t\u1ea5n c\u00f4ng \u0111ang di\u1ec5n ra nh\u1eb1m v\u00e0o c\u00e1c c\u01a1 s\u1edf \u0111\u01b0\u1eddng \u1ed1ng d\u1eabn d\u1ea7u v\u00e0 m\u1ecf d\u1ea7u \u0110\u00f4ng-T\u00e2y c\u1ee7a \u1ea2 R\u1eadp Saudi, ph\u00ed b\u1ea3o hi\u1ec3m r\u1ee7i ro kh\u00f4ng th\u1ec3 \u0111\u01b0\u1ee3c gi\u1ea3i quy\u1ebft nhanh ch\u00f3ng.<\/li>\n
  2. Th\u1ee9 hai, l\u01b0\u1ee3ng h\u00e0ng t\u1ed3n kho c\u1ef1c th\u1ea5p s\u1ebd khu\u1ebfch \u0111\u1ea1i s\u1ef1 bi\u1ebfn \u0111\u1ed9ng gi\u00e1 c\u1ea3. T\u1ed3n kho d\u1ea7u th\u00f4 th\u01b0\u01a1ng m\u1ea1i c\u1ee7a M\u1ef9 \u0111\u00e3 gi\u1ea3m trong ba tu\u1ea7n li\u00ean ti\u1ebfp v\u00e0 tr\u1eef l\u01b0\u1ee3ng d\u1ea7u c\u1ee7a OECD \u0111ang \u1edf m\u1ee9c th\u1ea5p nh\u1ea5t trong nhi\u1ec1u n\u0103m, l\u00e0m c\u1ea1n ki\u1ec7t ngu\u1ed3n d\u1ef1 tr\u1eef d\u1ea7u. Ngay c\u1ea3 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng h\u00e0ng tu\u1ea7n t\u1eeb 5 \u0111\u1ebfn 10 tri\u1ec7u th\u00f9ng c\u0169ng c\u00f3 th\u1ec3 khu\u1ebfch \u0111\u1ea1i bi\u1ebfn \u0111\u1ed9ng gi\u00e1 d\u1ea7u l\u00ean g\u1ea5p nhi\u1ec1u l\u1ea7n; \u0111i\u1ec1u n\u00e0y d\u1ef1a tr\u00ean logic t\u01b0\u01a1ng t\u1ef1 nh\u01b0 l\u01b0\u1ee3ng kh\u00ed \u0111\u1ed1t t\u1ef1 nhi\u00ean t\u1ed3n kho th\u1ea5p \u1edf ch\u00e2u \u00c2u.<\/li>\n
  3. Th\u1ee9 ba, nh\u1eefng c\u00fa s\u1ed1c \u0111\u1ecba ch\u00ednh tr\u1ecb \u0111\u00e3 chuy\u1ec3n t\u1eeb t\u00e1c \u0111\u1ed9ng t\u1ee9c th\u1eddi sang vi\u1ec7c \u0111\u1ecbnh gi\u00e1 d\u1ef1a tr\u00ean quy\u1ec1n ch\u1ecdn. Th\u1ecb tr\u01b0\u1eddng \u0111\u1ed3ng th\u1eddi \u0111ang \u0111\u00e1nh gi\u00e1 kh\u1ea3 n\u0103ng leo thang h\u01a1n n\u1eefa sau cu\u1ed9c b\u1ea7u c\u1eed gi\u1eefa nhi\u1ec7m k\u1ef3 c\u1ee7a Hoa K\u1ef3, v\u1edbi c\u00e1c s\u1ef1 ki\u1ec7n nh\u01b0 s\u01a1 t\u00e1n nh\u00e2n vi\u00ean ngo\u1ea1i giao c\u1ee7ng c\u1ed1 k\u1ef3 v\u1ecdng r\u1ee7i ro v\u00e0 t\u1ea1o n\u1ec1n t\u1ea3ng v\u1eefng ch\u1eafc cho gi\u00e1 d\u1ea7u.<\/li>\n
  4. \"\u5c40\u90e8\u622a\u53d6_20261026_154704\"<\/li>\n<\/ol>\n

    S\u1ef1 kh\u00e1c bi\u1ec7t trong c\u00e1c k\u1ecbch b\u1ea3n th\u1ec3 ch\u1ebf \u0111\u00e3 \u0111\u1ea1t \u0111\u1ebfn m\u1ee9c c\u1ef1c \u0111oan: n\u1ebfu xung \u0111\u1ed9t gi\u1ea3m leo thang v\u00e0 \u0111\u1ed1i tho\u1ea1i b\u1eaft \u0111\u1ea7u, d\u1ea7u th\u00f4 Brent c\u00f3 th\u1ec3 gi\u1ea3m tr\u1edf l\u1ea1i m\u1ee9c 74 USD\/th\u00f9ng v\u00e0o n\u0103m 2027; n\u1ebfu xung \u0111\u1ed9t ti\u1ebfp t\u1ee5c trong su\u1ed1t c\u1ea3 n\u0103m, n\u00f3 c\u00f3 \u0111\u1ed9ng l\u1ef1c \u0111\u1ea1t t\u1edbi 130 USD\/th\u00f9ng.<\/p>\n

    T\u00e1ch gi\u00e1 d\u1ea7u chu\u1ea9n kh\u1ecfi gi\u00e1 ng\u01b0\u1eddi d\u00f9ng cu\u1ed1i: C\u00fa s\u1ed1c l\u1ea1m ph\u00e1t th\u1ee9 hai trong l\u0129nh v\u1ef1c l\u1ecdc d\u1ea7u<\/h2>\n

    Gi\u00e1 d\u1ea7u Brent gi\u1ea3m kh\u00f4ng \u0111\u1ed3ng ngh\u0129a v\u1edbi vi\u1ec7c gi\u1ea3m chi ph\u00ed n\u0103ng l\u01b0\u1ee3ng s\u1eed d\u1ee5ng cu\u1ed1i c\u00f9ng. Ch\u1eebng n\u00e0o chi ph\u00ed v\u1eadn chuy\u1ec3n v\u00e0 l\u1ecdc d\u1ea7u v\u1eabn \u1edf m\u1ee9c cao th\u00ec \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t s\u1ebd c\u00f2n t\u1ed3n t\u1ea1i. C\u00e1c nh\u00e0 m\u00e1y l\u1ecdc d\u1ea7u ch\u00e2u \u00c1 ph\u1ee5 thu\u1ed9c nhi\u1ec1u v\u00e0o nh\u1eadp kh\u1ea9u d\u1ea7u th\u00f4 t\u1eeb \u0111\u01b0\u1eddng d\u00e0i v\u00e0 c\u01a1 s\u1edf v\u1eadt ch\u1ea5t c\u1ee7a h\u1ecd \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf cho c\u00e1c lo\u1ea1i d\u1ea7u c\u1ee5 th\u1ec3. Vi\u1ec7c chuy\u1ec3n sang s\u1eed d\u1ee5ng c\u00e1c lo\u1ea1i d\u1ea7u kh\u00e1c nhau s\u1ebd l\u00e0m gi\u1ea3m s\u1ea3n l\u01b0\u1ee3ng s\u1ea3n ph\u1ea9m \u0111\u00e3 tinh ch\u1ebf; c\u00f9ng v\u1edbi chi ph\u00ed v\u1eadn chuy\u1ec3n cao, c\u00e1c ngu\u1ed3n thay th\u1ebf c\u00f3 th\u1ec3 kh\u00f4ng hi\u1ec7u qu\u1ea3 v\u1ec1 m\u1eb7t chi ph\u00ed. C\u00e1c nh\u00e0 m\u00e1y l\u1ecdc d\u1ea7u ch\u00e2u \u00c2u \u0111\u00e3 ch\u1ee7 \u0111\u1ed9ng gi\u1ea3m kh\u1ed1i l\u01b0\u1ee3ng x\u1eed l\u00fd v\u00e0 c\u00e1c c\u01a1 s\u1edf l\u1ecdc d\u1ea7u ch\u00e2u \u00c1 \u0111ang ti\u1ebfn g\u1ea7n \u0111\u1ebfn \u0111i\u1ec3m h\u00f2a v\u1ed1n. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra m\u1ed9t chu\u1ed7i ti\u00eau c\u1ef1c: chi ph\u00ed v\u1eadn chuy\u1ec3n cao \u2192 c\u00e1c nh\u00e0 m\u00e1y l\u1ecdc d\u1ea7u ch\u1ee7 \u0111\u1ed9ng gi\u1ea3m c\u00f4ng su\u1ea5t \u2192 gi\u00e1 s\u1ea3n ph\u1ea9m tinh ch\u1ebf t\u0103ng ng\u01b0\u1ee3c xu h\u01b0\u1edbng, d\u1eabn \u0111\u1ebfn sai l\u1ec7ch khi l\u1ee3i nhu\u1eadn c\u1ee7a c\u00e1c nh\u00e0 s\u1ea3n xu\u1ea5t d\u1ea7u th\u00f4 b\u1ecb x\u00f3i m\u00f2n do chi ph\u00ed v\u1eadn chuy\u1ec3n trong khi gi\u00e1 ti\u00eau d\u00f9ng cu\u1ed1i c\u00f9ng v\u1eabn \u1edf m\u1ee9c cao. \u0110i\u1ec1u n\u00e0y ph\u00f9 h\u1ee3p v\u1edbi logic truy\u1ec1n t\u1ea3i kh\u00ed \u0111\u1ed1t t\u1ef1 nhi\u00ean-\u0111i\u1ec7n \u1edf ch\u00e2u \u00c2u: gi\u00e1 chu\u1ea9n \u1edf th\u01b0\u1ee3ng ngu\u1ed3n ch\u1ec9 l\u00e0 \u0111i\u1ec3m kh\u1edfi \u0111\u1ea7u; h\u1eadu c\u1ea7n v\u00e0 ch\u1ebf bi\u1ebfn s\u1ebd t\u1ea1o ra nh\u1eefng c\u00fa s\u1ed1c th\u1ee9 c\u1ea5p.<\/p>\n

    Li\u00ean k\u1ebft xuy\u00ean th\u1ecb tr\u01b0\u1eddng: C\u00fa s\u1ed1c d\u1ea7u th\u00f4 k\u1ebft n\u1ed1i to\u00e0n b\u1ed9 chu\u1ed7i kinh t\u1ebf v\u0129 m\u00f4<\/h2>\n
      \n
    • \u0110\u1ed1i v\u1edbi M\u1ef9, chi ph\u00ed v\u1eadn chuy\u1ec3n h\u00e0ng h\u00f3a t\u0103ng \u0111ang \u0111\u1ea9y gi\u00e1 d\u1ea7u tinh ch\u1ebf l\u00ean cao v\u00e0 l\u00e0m tr\u1ea7m tr\u1ecdng th\u00eam t\u00ecnh tr\u1ea1ng l\u1ea1m ph\u00e1t, l\u00e0m t\u0103ng kh\u1ea3 n\u0103ng C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang ti\u1ebfp t\u1ee5c t\u0103ng l\u00e3i su\u1ea5t. Chu k\u1ef3 v\u1ed1n AI h\u1ea1 nhi\u1ec7t d\u1eabn \u0111\u1ebfn nhu c\u1ea7u gi\u1ea3m b\u1edbt c\u00f3 th\u1ec3 b\u00f9 \u0111\u1eafp m\u1ed9t ph\u1ea7n \u0111i\u1ec1u n\u00e0y, nh\u01b0ng hai l\u1ef1c l\u01b0\u1ee3ng n\u00e0y \u0111ang \u0111i theo hai h\u01b0\u1edbng tr\u00e1i ng\u01b0\u1ee3c nhau, khi\u1ebfn Fed r\u01a1i v\u00e0o t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan. N\u1ebfu gi\u00e1 d\u1ea7u t\u0103ng tr\u1edf l\u1ea1i, ngay c\u1ea3 s\u1ef1 s\u1ee5t gi\u1ea3m trong giao d\u1ecbch AI c\u0169ng s\u1ebd kh\u00f4ng th\u1ec3 b\u00f9 \u0111\u1eafp ho\u00e0n to\u00e0n \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t v\u00e0 l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu Kho b\u1ea1c Hoa K\u1ef3 s\u1ebd ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi \u00e1p l\u1ef1c t\u0103ng m\u1edbi.<\/li>\n
    • \"\u5c40\u90e8\u622a\u53d6_20261026_154906\"<\/li>\n
    • \u0110\u1ed1i v\u1edbi khu v\u1ef1c \u0111\u1ed3ng Euro, c\u00fa s\u1ed1c n\u0103ng l\u01b0\u1ee3ng k\u00e9p t\u1eeb d\u1ea7u tinh ch\u1ebf v\u00e0 kh\u00ed \u0111\u1ed1t t\u1ef1 nhi\u00ean \u0111\u00e3 \u0111\u1ea9y l\u1ea1m ph\u00e1t chung l\u00ean cao, bu\u1ed9c Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng ch\u00e2u \u00c2u ph\u1ea3i duy tr\u00ec ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u1eaft ch\u1eb7t. L\u00e3i su\u1ea5t cao li\u00ean t\u1ee5c \u0111\u00e3 l\u00e0m t\u0103ng \u00e1p l\u1ef1c t\u00e1i c\u1ea5p v\u1ed1n \u0111\u1ed1i v\u1edbi c\u00e1c qu\u1ed1c gia m\u1eafc n\u1ee3 cao nh\u01b0 Ph\u00e1p, l\u00e0m t\u0103ng nguy c\u01a1 ch\u00eanh l\u1ec7ch n\u1ee3 ch\u00ednh ph\u1ee7. L\u1ea1m ph\u00e1t n\u0103ng l\u01b0\u1ee3ng v\u00e0 s\u1ef1 mong manh v\u1ec1 t\u00e0i ch\u00ednh \u0111\u00e3 t\u1ea1o ra m\u1ed9t v\u00f2ng ph\u1ea3n h\u1ed3i ti\u00eau c\u1ef1c hai chi\u1ec1u.<\/li>\n
    • \u0110\u1ed1i v\u1edbi vi\u1ec7c \u0111\u1ecbnh gi\u00e1 t\u00e0i s\u1ea3n, chi ph\u00ed v\u1eadn chuy\u1ec3n \u0111ang \u0111\u1ecbnh h\u00ecnh l\u1ea1i ch\u00eanh l\u1ec7ch gi\u00e1 d\u1ea7u th\u00f4 gi\u1eefa c\u00e1c khu v\u1ef1c, v\u1edbi m\u1ee9c ch\u00eanh l\u1ec7ch gi\u00e1 d\u1ea7u Brent-WTI t\u0103ng l\u00ean 14 USD\/th\u00f9ng, v\u01b0\u1ee3t xa m\u1ee9c b\u00ecnh th\u01b0\u1eddng l\u00e0 5 USD. C\u01a1 h\u1ed9i giao d\u1ecbch ng\u00e0y c\u00e0ng ph\u00e1t sinh t\u1eeb s\u1ef1 ch\u00eanh l\u1ec7ch gi\u00e1 t\u01b0\u01a1ng \u0111\u1ed1i gi\u1eefa c\u00e1c khu v\u1ef1c v\u00e0 h\u00e0ng h\u00f3a, thay v\u00ec ch\u1ec9 \u0111\u01a1n gi\u1ea3n \u0111\u1eb7t c\u01b0\u1ee3c v\u00e0o bi\u1ebfn \u0111\u1ed9ng gi\u00e1 Brent \u0111\u01a1n ph\u01b0\u01a1ng.<\/li>\n<\/ul>\n

      H\u1ea7u h\u1ebft c\u00e1c ph\u00e2n t\u00edch ch\u1ec9 xem x\u00e9t bi\u1ec3u \u0111\u1ed3 gi\u00e1 d\u1ea7u ho\u1eb7c gi\u1ea3i th\u00edch c\u00e1c ch\u00ednh s\u00e1ch c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng m\u1ed9t c\u00e1ch t\u00e1ch bi\u1ec7t m\u00e0 kh\u00f4ng th\u1ea5y \u0111\u01b0\u1ee3c nh\u1eefng thay \u0111\u1ed5i trong l\u01b0u th\u00f4ng cu\u1ed1i c\u00f9ng \u0111\u01b0\u1ee3c truy\u1ec1n t\u1ea3i nh\u01b0 th\u1ebf n\u00e0o c\u00f9ng v\u1edbi l\u1ea1m ph\u00e1t \u0111\u1ebfn n\u1ee3 c\u00f3 ch\u1ee7 quy\u1ec1n, t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i v\u00e0 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n.<\/p>\n

      Theo d\u00f5i t\u00edn hi\u1ec7u v\u00e0 m\u00f4 ph\u1ecfng k\u1ecbch b\u1ea3n<\/h2>\n

      Vi\u1ec7c x\u00e1c minh s\u1ef1 ph\u1ee5c h\u1ed3i c\u1ee7a chu\u1ed7i cung \u1ee9ng kh\u00f4ng n\u00ean ch\u1ec9 d\u1ef1a v\u00e0o gi\u00e1 d\u1ea7u th\u00f4 Brent; ba t\u00edn hi\u1ec7u c\u00f3 m\u1ee9c \u0111\u1ed9 \u01b0u ti\u00ean cao h\u01a1n c\u1ea7n \u0111\u01b0\u1ee3c xem x\u00e9t: gi\u00e1 c\u01b0\u1edbc v\u1eadn chuy\u1ec3n t\u00e0u ch\u1edf d\u1ea7u to\u00e0n c\u1ea7u gi\u1ea3m li\u00ean t\u1ee5c, thu h\u1eb9p ch\u00eanh l\u1ec7ch gi\u00e1 d\u1ea7u th\u00f4 gi\u1eefa c\u00e1c khu v\u1ef1c v\u00e0 \u1ed5n \u0111\u1ecbnh kh\u1ed1i l\u01b0\u1ee3ng ch\u1ebf bi\u1ebfn c\u1ee7a c\u00e1c nh\u00e0 m\u00e1y l\u1ecdc d\u1ea7u \u1edf ch\u00e2u \u00c1. Ch\u1ec9 khi c\u1ea3 ba \u0111\u1ec1u \u0111\u01b0\u1ee3c x\u00e1c nh\u1eadn, n\u00f3 m\u1edbi c\u00f3 th\u1ec3 th\u1ec3 hi\u1ec7n s\u1ef1 ph\u1ee5c h\u1ed3i \u0111\u00e1ng k\u1ec3 c\u1ee7a h\u1ec7 th\u1ed1ng giao th\u00f4ng.<\/p>\n

      \"\u5c40\u90e8\u622a\u53d6_20261026_155153\"<\/p>\n

        \n
      • K\u1ecbch b\u1ea3n c\u01a1 b\u1ea3n \u2013 Xung \u0111\u1ed9t v\u1eabn b\u1ebf t\u1eafc, chi ph\u00ed v\u1eadn chuy\u1ec3n dao \u0111\u1ed9ng \u1edf m\u1ee9c cao, h\u00e0ng t\u1ed3n kho kh\u00f3 ph\u1ee5c h\u1ed3i nhanh ch\u00f3ng v\u00e0 gi\u00e1 d\u1ea7u v\u1eabn \u1edf m\u1ee9c cao. L\u1ea1m ph\u00e1t n\u0103ng l\u01b0\u1ee3ng v\u1eabn c\u00f2n kh\u00f3 kh\u0103n, C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang gi\u1eef nguy\u00ean l\u1ef1a ch\u1ecdn t\u0103ng l\u00e3i su\u1ea5t trong n\u0103m nay, Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Ch\u00e2u \u00c2u duy tr\u00ec l\u1eadp tr\u01b0\u1eddng th\u1eaft ch\u1eb7t v\u00e0 ph\u1ea7n b\u00f9 r\u1ee7i ro \u0111\u1ed1i v\u1edbi n\u1ee3 ch\u00ednh ph\u1ee7 c\u1ee7a khu v\u1ef1c Eurozone ti\u1ebfp t\u1ee5c ch\u1ecbu \u00e1p l\u1ef1c.<\/li>\n
      • K\u1ecbch b\u1ea3n r\u1ee7i ro t\u0103ng gi\u00e1: C\u00e1c cu\u1ed9c t\u1ea5n c\u00f4ng gia t\u0103ng v\u00e0o c\u00e1c c\u01a1 s\u1edf \u1edf Trung \u0110\u00f4ng v\u00e0 s\u1ef1 gi\u00e1n \u0111o\u1ea1n h\u01a1n n\u1eefa trong ho\u1ea1t \u0111\u1ed9ng v\u1eadn chuy\u1ec3n c\u00f3 th\u1ec3 \u0111\u1ea9y gi\u00e1 d\u1ea7u l\u00ean m\u1ee9c 130 USD. S\u1ef1 ph\u1ee5c h\u1ed3i to\u00e0n di\u1ec7n c\u1ee7a l\u1ea1m ph\u00e1t nh\u1eadp kh\u1ea9u c\u00f3 th\u1ec3 bu\u1ed9c c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng \u1edf M\u1ef9 v\u00e0 ch\u00e2u \u00c2u th\u1eaft ch\u1eb7t ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 h\u01a1n n\u1eefa, d\u1eabn \u0111\u1ebfn l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n to\u00e0n c\u1ea7u cao h\u01a1n, khu\u1ebfch \u0111\u1ea1i r\u1ee7i ro v\u00f2ng xo\u00e1y n\u1ee3 \u1edf c\u00e1c qu\u1ed1c gia nh\u01b0 Ph\u00e1p v\u00e0 g\u00e2y ra s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh mang t\u00ednh h\u1ec7 th\u1ed1ng \u0111\u1ed1i v\u1edbi t\u00e0i s\u1ea3n r\u1ee7i ro.<\/li>\n
      • K\u1ecbch b\u1ea3n ph\u1ee5c h\u1ed3i \u2013 Xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb gi\u1ea3m b\u1edbt, c\u00e1c tuy\u1ebfn v\u1eadn chuy\u1ec3n ti\u1ebfp t\u1ee5c, gi\u00e1 c\u01b0\u1edbc v\u1eadn chuy\u1ec3n gi\u1ea3m nhanh v\u00e0 ho\u1ea1t \u0111\u1ed9ng c\u1ee7a nh\u00e0 m\u00e1y l\u1ecdc d\u1ea7u ph\u1ee5c h\u1ed3i. \u00c1p l\u1ef1c l\u1ea1m ph\u00e1t n\u0103ng l\u01b0\u1ee3ng gi\u1ea3m b\u1edbt, \u00e1p l\u1ef1c th\u1eaft ch\u1eb7t t\u1eeb c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng M\u1ef9 v\u00e0 ch\u00e2u \u00c2u gi\u1ea3m nh\u1eb9 v\u00e0 th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu to\u00e0n c\u1ea7u c\u00f3 c\u01a1 h\u1ed9i ph\u1ee5c h\u1ed3i.<\/li>\n<\/ul>\n

        Nh\u1eefng r\u1ee7i ro th\u1ef1c s\u1ef1 tr\u00ean th\u1ecb tr\u01b0\u1eddng d\u1ea7u th\u00f4 kh\u00f4ng c\u00f2n gi\u1edbi h\u1ea1n \u1edf vi\u1ec7c s\u1ea3n xu\u1ea5t m\u1ecf d\u1ea7u n\u1eefa. T\u1ed5n th\u1ea5t v\u1ec1 h\u1eadu c\u1ea7n, thi\u1ebfu h\u00e0ng t\u1ed3n kho v\u00e0 \u0111\u1ecbnh gi\u00e1 quy\u1ec1n ch\u1ecdn \u0111\u1ecba ch\u00ednh tr\u1ecb \u0111\u1ec1u g\u00f3p ph\u1ea7n v\u00e0o s\u1ef1 lan r\u1ed9ng ra b\u00ean ngo\u00e0i, \u1ea3nh h\u01b0\u1edfng s\u00e2u s\u1eafc \u0111\u1ebfn ch\u00ednh s\u00e1ch c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, s\u1ef1 \u1ed5n \u0111\u1ecbnh n\u1ee3 c\u00f3 ch\u1ee7 quy\u1ec1n v\u00e0 \u0111\u1ecbnh gi\u00e1 t\u00e0i s\u1ea3n to\u00e0n c\u1ea7u.<\/p>","protected":false},"excerpt":{"rendered":"

        T\u1ea1i sao Brent gi\u1eef g\u1ea7n 108 m\u1eb7c d\u00f9 xu\u1ea5t kh\u1ea9u ph\u1ee5c h\u1ed3i: chi ph\u00ed v\u1eadn chuy\u1ec3n, h\u00e0ng t\u1ed3n kho th\u1ea5p v\u00e0 \u0111\u1ecba ch\u00ednh tr\u1ecb \u0111\u1ea9y l\u1ea1m ph\u00e1t v\u00e0o c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng v\u00e0 n\u1ee3 ch\u00ednh ph\u1ee7.<\/p>","protected":false},"author":1,"featured_media":9983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[115],"tags":[1020,1022,1021],"class_list":["post-9982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-brent-crude-outlook","tag-crude-oil-freight-rates","tag-vlcc-tanker-rates"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/comments?post=9982"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9982\/revisions"}],"predecessor-version":[{"id":9988,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9982\/revisions\/9988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media\/9983"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media?parent=9982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/categories?post=9982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/tags?post=9982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}