According to data from Oilprice at 4:30 a.m. Vietnam time, WTI oil price was recorded at 60.08 USD/barrel, down slightly by 0.01 USD. Brent oil price also decreased similarly, to 63.32 USD/barrel.
During the day, Brent crude futures fell 25 cents to $63.08 a barrel, while WTI crude fell 30 cents to $59.77 a barrel.
For the week, Brent fell about 3.8%, while WTI fell 3.5%, continuing last week’s 11% decline. Notably, at one point Brent fell below $60/barrel – its lowest level since February 2021.
Ole Hansen of Saxo Bank said that although some tariffs have been postponed for 90 days, the damage to the market has already been done and it is unlikely to recover steadily in the short term. BMI analysts also predicted that oil prices will continue to be under pressure as trade negotiations between the US and China show no signs of cooling down.
In addition, the US Energy Information Administration (EIA) has just cut its global economic growth forecast and warned that tariffs could put further pressure on oil prices. The agency also lowered its forecast for US and world oil demand in 2025 and 2026.
China's economic growth could slow in 2025 due to the impact of new US tax policies, a Reuters survey found. This is especially worrying because China is the world's largest oil importer.
The UN trade agency representative also warned that developing economies could suffer serious impacts if this situation persists.
According to ANZ Bank, if global economic growth falls below 3%, oil consumption could fall by about 1%. Expert Daniel Hynes also commented that oil prices will continue to be volatile as investors react to trade developments.
Oil prices were also pressured on Thursday by new U.S. sanctions targeting Iran’s oil trading network, including a storage facility in China. Meanwhile, Iran said it was ready for nuclear talks with the U.S. in Oman, scheduled for today.
From 3pm on April 10, the Ministry of Finance and the Ministry of Industry and Trade announced the decision to adjust domestic retail gasoline prices. Accordingly, the deep reduction will be applied to all products.
The price of E5 RON 92 gasoline was adjusted down by VND1,490/liter, down to VND18,880/liter. RON 95 gasoline decreased by VND1,710/liter, currently having a maximum retail price of VND19,200/liter. This is the first time the price of RON 95 gasoline has decreased after three consecutive increases since the beginning of the year.
Oil prices also recorded a significant decrease. Diesel oil decreased by VND1,230/liter, down to VND17,240/liter. Kerosene decreased by VND1,320/liter, down to VND17,410/liter. Fuel oil decreased by VND1,120/kg, currently at VND15,900/kg.
Since the beginning of 2025, the price of RON 95 gasoline has undergone 15 adjustments, including 8 increases and 7 decreases. Diesel oil has also had the same number of increases and decreases, 7, and one more time it has remained unchanged.
Notably, during this operating period, the joint ministries did not make any provision or use of the Price Stabilization Fund for any petroleum products.
Previously, in the adjustment period on April 3, the prices of E5 RON 92 and RON 95 gasoline increased by VND340 and VND490 per liter, respectively, bringing the prices to VND20,370 per liter and VND20,910 per liter, respectively. Diesel oil prices also increased by VND260 per liter, to VND18,470 per liter.
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Source: https://baonghean.vn/gia-xang-dau-hom-nay-12-4-2025-gia-dau-the-gioi-tiep-tuc-giam-10294961.html
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