World oil prices
Oil prices rose more than $1 at the end of trading on April 22 as new US sanctions on Iran and rising stock markets helped fuel a recovery after a sharp sell-off in the previous session.
Oil prices regain bullish appetite. Illustration photo: Business Day
Brent crude rose $1.18, or 1.8%, to $67.44 a barrel. WTI crude for May delivery, which expires on April 22, rose $1.23, or 1.95%, to $64.32 a barrel. WTI for June delivery rose 2% to $63.47 a barrel.
Brent and WTI oil prices fell more than 2% in the trading session on April 21 as the US and Iran made progress in negotiations on Iran's nuclear program, and especially when the stock market sold off sharply after US President Donald Trump criticized US Federal Reserve Chairman Jerome Powell.
According to Reuters, on April 22, the US issued new sanctions targeting Iranian crude oil and liquefied petroleum gas transport tycoon Seyed Asadoollah Emamjomeh and his network of companies.
John Kilduff, partner at New York-based Again Capital, said that while talks with the US have made progress, failure to reach a deal could severely impact Iran's oil exports amid tightening US sanctions.
According to John Kilduff, there are two scenarios: one is that the US reaches some kind of nuclear deal with Iran, the other is that the US will try to push Iran's oil flows down to zero, and the scenario is increasingly looking like the second scenario.
Falling US oil inventories support accelerating oil prices. Illustration photo: Reuters
Also on April 22, US Treasury Secretary Scott Bessent expressed confidence that trade tensions between the US and China would de-escalate, although he warned that negotiations with Beijing had not yet begun and would be "difficult".
Tensions between Washington and Beijing and tariffs on most of America's trading partners have weighed on oil prices in recent weeks as investors expressed concerns about the possibility of a global economic downturn that could severely erode oil demand.
Regarding petroleum inventories, the American Petroleum Institute said that US oil inventories fell by nearly 4.6 million barrels; gasoline inventories fell by 2.18 million barrels.
Domestic gasoline prices
Domestic retail prices of gasoline on April 23 are as follows:
E5 RON 92 gasoline is not more than 18,498 VND/liter. RON 95-III gasoline is not more than 18,856 VND/liter. Diesel oil not more than 17,037 VND/liter. Kerosene not more than 17,184 VND/liter. Fuel oil not exceeding 15,960 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 April 24. Due to the increase in world gasoline and oil prices last week, it is likely that domestic gasoline and oil prices will have difficulty achieving a hat-trick of decreases.
In the most recent price adjustment, the price of E5 RON 92 gasoline decreased by 384 VND/liter, RON 95-III gasoline decreased by 351 VND/liter, diesel decreased by 206 VND/liter, kerosene decreased by 229 VND/liter. Only fuel oil increased by 58 VND/kg.
Source: https://baolangson.vn/gia-xang-dau-hom-nay-23-4-lay-lai-sac-xanh-5044850.html
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