Oil prices today, March 26, started the trading session with an increase for both Brent and WTI oil.
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| Oil prices today, March 26, started the trading session with an increase for both Brent and WTI oil. (Source: Getty) |
Oil prices were little changed in the previous session on March 25. Oil prices fluctuated slightly as a maritime and energy ceasefire agreement between Russia and Ukraine offset concerns about tighter global supplies after the US threatened to impose tariffs on countries that buy Venezuelan products.
Brent crude futures rose 2 cents, or 0.03%, to $73.02 a barrel. WTI futures fell 11 cents, or 0.16%, to $69 a barrel.
The United States has reached an agreement with Ukraine and Russia to halt attacks at sea and on energy targets, Reuters reported, with Washington agreeing to push for the lifting of some sanctions on Moscow.
Both Kiev and Moscow have said they will rely on Washington to enforce the agreements, but have also expressed skepticism about the other's compliance with them.
The ceasefire reached between Russia and Ukraine could pave the way for easing sanctions on Russian oil, said senior analyst Phil Flynn of Price Futures Group.
Meanwhile, US President Donald Trump's threat to impose tariffs on countries importing oil and gas from Venezuela has raised concerns about supply.
These secondary tariffs are indirect sanctions aimed at reducing Venezuela’s ability to supply oil and harming China’s private refining system (which includes small, independent Chinese refiners), said Mukesh Sahdev, head of global commodity markets at Rystad Energy.
Oil is Venezuela's main export and China, which is the target of US import tariffs, is its biggest customer.
The Trump administration has also given US oil producer Chevron a deadline to end its operations in Venezuela by May 27.
Revoking Chevron's operating license could cut Venezuela's output by about 200,000 barrels of oil per day, according to ANZ analysts.
Last week, the US issued new sanctions targeting Iran's oil exports.
Meanwhile, OPEC+ is likely to maintain its plan to increase oil production in May for the second consecutive month amid stable oil prices. The group also plans to force some members to reduce production to compensate for past overproduction.
Executives from commodity trading firms said they expect the oil market to be well supplied this year, despite concerns about global demand growth.
According to the American Petroleum Institute, in the week ending March 21, US crude oil inventories fell by 4.6 million barrels; gasoline inventories also fell by 3.3 million barrels and distillate inventories fell by 1.3 million barrels.
Domestic retail prices of gasoline on March 26 are as follows:
E5 RON 92 gasoline is not more than 19,695 VND/liter. RON 95-III gasoline is not more than 20,087 VND/liter. Diesel oil not more than 17,893 VND/liter. Kerosene not more than 18,118 VND/liter. Fuel oil not exceeding 16,955 VND/kg. |
The above domestic retail prices of gasoline and oil will be adjusted by the Ministry of Finance and the Ministry of Industry and Trade in the price management session on the afternoon of March 27. Due to the increase in world gasoline and oil prices last week, it is likely that domestic gasoline and oil prices will also increase.
In the most recent price adjustment, the price of E5 RON 92 gasoline increased by 414 VND/liter, RON 95-III gasoline increased by 438 VND/liter, kerosene increased by 28 VND/liter, diesel decreased by 5 VND/liter, and fuel oil decreased by 40 VND/kg.
Source: https://baoquocte.vn/gia-xang-dau-hom-nay-263-ca-dau-brent-va-wti-deu-tang-308873.html
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