World oil prices fell after US President Donald Trump announced that he would impose new tariffs on countries doing business with Russia if Moscow fails to reach a ceasefire agreement with Ukraine within the next 50 days. Domestically, gasoline prices have been adjusted up.
World oil prices
Oil prices fell more than $1 a barrel on July 14, as investors weighed fresh threats from US President Donald Trump's announcement of sanctions on buyers of Russian oil, a factor that could affect global oil supplies, along with concerns about new US tariffs.
According to Reuters, at the end of the first trading session of the week, Brent oil price decreased by 1.15 USD/barrel, equivalent to 1.63%, to 69.21 USD/barrel. WTI oil price decreased by 1.47 USD/barrel, equivalent to 2.15%, to 66.98 USD/barrel.
US President Donald Trump has vowed to provide new weapons to Ukraine and threatened to impose sanctions on countries that buy Russian exports unless Moscow agrees to a peace deal with Ukraine within the next 50 days.
At the end of the trading session on July 14, world oil prices fell by more than 1 USD/barrel. Illustration photo: Reuters |
Oil prices rose sharply at the start of the session on speculation that Washington would impose tougher sanctions. However, prices quickly fell as traders weighed whether the US would actually impose higher tariffs on countries that still trade with Russia.
“The market reacted negatively, as there seemed to be plenty of time left to negotiate. The fear of immediate US sanctions on Russia has subsided, as the 50-day deadline makes that risk more remote than initially thought earlier in the day,” said Phil Flynn, senior analyst at Price Futures Group.
China and India are now two of the top destinations for Russian crude.
“The likelihood of the US imposing 100% tariffs on China is almost zero, because that would cause inflation to skyrocket,” said Bob Yawger, director of energy futures at Mizuho.
Illustration: Shutterstock |
A bipartisan US bill to impose sanctions on Russia to pressure Moscow to change its approach to negotiating with Ukraine won support in the US Congress this week. Meanwhile, the European Union (EU) is moving closer to passing its 18th package of sanctions against Russia over the conflict in Ukraine, including a cap on oil prices.
Investors are also closely watching the outcome of tariff negotiations between the US and major trading partners.
“EU member states consider Mr Trump’s threat of tariffs to be completely unacceptable,” Danish Foreign Minister Lars Lokke Rasmussen said at a joint press conference with EU Trade Commissioner Maros Sefcovic in Brussels.
Domestic gasoline prices
Domestic retail prices of gasoline on July 15 are as follows:
- E5RON92 gasoline: Not higher than 19,659 VND/liter. |
The Ministry of Industry and Trade and the Ministry of Finance decided on retail gasoline prices from 3:00 p.m. on July 10. Accordingly, the price of E5RON92 gasoline increased by VND214/liter, RON95-III gasoline increased by VND184/liter; diesel increased by VND429/liter; kerosene increased by VND239/liter; and fuel oil price decreased by VND244/kg.
In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.
According to the joint ministries, the world oil market in this management period is affected by main factors such as: Escalating tensions in the Red Sea region; information about the US's new import tax policy on goods from trading partners; Russia - Ukraine military conflict... The above factors have caused world oil prices to fluctuate in recent days depending on each item.
DUC AN
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Source: https://baolamdong.vn/gia-xang-dau-hom-nay-15-7-bat-ngo-giam-382333.html
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