Oil prices slide from seven-week high

Oil prices fell in Asia on September 25, after hitting a seven-week high in the previous session, as some investors withdrew funds from the market amid uncertainty over the supply-demand outlook.

Oil rig in Luling, Texas, USA. Photo: THX/TTXVN

Brent crude futures fell 19 cents, or 0.3%, to $69.12 a barrel at 1:37 p.m. on September 25 (Vietnam time), while U.S. West Texas Intermediate (WTI) futures fell 22 cents to $64.77 a barrel.

Prices of both types of oil rose 2.5% in the session on September 24, to the highest level since August 1, due to the unexpected decrease in US weekly crude oil reserves and concerns about the risk of supply disruption due to new developments related to the conflict in Ukraine.

Priyanka Sachdeva, a market analyst at Phillip Nova, said oil prices may be hitting a ceiling, with weaker seasonal demand and increased supply from the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, in the fourth quarter of 2025. The recent rally has been driven more by sentiment than fundamentals, so unless there is a new shock, Brent crude is likely to trend slightly lower.

Some profit-taking in morning trades was seen, Ms. Sachdeva noted, adding that the return of supplies from Iraq's Kurdistan region was raising concerns about oversupply, pulling prices down from seven-week highs.

Oil supplies from Iraq's Kurdistan region are expected to resume in the coming days, after eight oil companies reached an agreement on September 24 with the Iraqi government and the Iraqi Kurdistan Regional Government to resume exports.

While some concerns about supply disruptions from Russia remain, Haitong Securities said another key factor behind the resilience of oil prices is the lack of significant downward pressure from supply and demand fundamentals in recent weeks. As the peak demand period gradually ends, the possibility of increased oversupply pressure has not yet been reflected in prices.

Underscoring investor caution about demand, a JP Morgan report on September 24 said U.S. air passenger traffic in September 2025 increased a modest 0.2% year-on-year, slowing significantly from robust growth of 1% in each of the previous two months. U.S. gasoline demand has also begun to decline, reflecting a general moderation in travel trends.

Source: https://baotintuc.vn/thi-truong-tien-te/gia-dau-truot-doc-tu-muc-cao-nhat-trong-7-tuan-20250925145159065.htm