Both Brent and WTI oil prices rose.

Today's fuel prices (March 26th) started the trading session with increases for both Brent and WTI crude oil.

Oil prices today, March 26th, started the trading day with increases for both Brent and WTI crude. (Source: Getty)

Earlier, oil prices were nearly flat during the trading session on March 25. The slight fluctuations in oil prices were offset by concerns about tighter global supply following the US threat of tariffs on countries buying Venezuelan products.

Brent crude oil prices rose 2 cents, or 0.03%, to $73.02 per barrel. WTI crude oil prices fell 11 cents, or 0.16%, to $69 per barrel.

Reuters reported that the US has reached an agreement with Ukraine and Russia to halt naval attacks and attacks targeting energy facilities, with Washington agreeing to push for the lifting of some sanctions against Moscow.

Both Kyiv and Moscow have stated that they will rely on Washington to enforce the agreements, but have also expressed skepticism about each other's compliance.

Phil Flynn, senior analyst at Price Futures Group, commented: "The ceasefire reached between Russia and Ukraine could pave the way for an easing of sanctions on Russian oil."

Meanwhile, US President Donald Trump's threat to impose tariffs on countries importing oil and gas from Venezuela has raised concerns about supply.

Mukesh Sahdev, global commodity market director at Rystad Energy, said: "These secondary tariffs are indirect sanctions aimed at undermining Venezuela's oil supply capacity and harming China's private refining system (including China's small, independent refineries)."

Oil is Venezuela's main export commodity, and China, which is the target of US import tariffs, is its largest customer.

The Donald Trump administration also extended the deadline for the American manufacturer Chevron to cease operations in Venezuela until May 27 at the latest.

According to ANZ analysts, the revocation of Chevron's operating license could reduce Venezuela's oil production by approximately 200,000 barrels per day.

Last week, the US imposed 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 organization also plans to require some members to cut production to compensate for past overproduction.

Executives from commodity trading companies said they expect the oil market to be fully supplied this year, although concerns remain about global demand growth.

According to the American Petroleum Institute, in the week ending March 21, US crude oil inventories decreased by 4.6 million barrels; gasoline inventories also decreased by 3.3 million barrels, and distillate product inventories decreased by 1.3 million barrels.

The retail prices of gasoline and diesel in Vietnam on March 26th are as follows:

E5 RON 92 gasoline should not exceed 19,695 VND/liter.

RON 95-III gasoline should not exceed 20,087 VND/liter.

Diesel fuel prices should not exceed 17,893 VND/liter.

Kerosene should not exceed 18,118 VND/liter.

Fuel oil price should not exceed 16,955 VND/kg.

The aforementioned domestic retail gasoline and diesel prices will be adjusted by the Ministry of Finance and the Ministry of Industry and Trade at the price adjustment meeting on the afternoon of March 27th. Due to the increase in world gasoline and diesel prices last week, it is highly likely that domestic gasoline and diesel 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