World oil prices today, July 16, decreased due to the stronger USD

Gasoline prices go down

Domestic gasoline prices

In the domestic market, the selling prices of gasoline and oil today, July 16, are applied according to the prices at the management session on the afternoon of July 11 by the Ministry of Finance and Industry and Trade.

Accordingly, gasoline prices were adjusted by the inter-ministerial committee in a downward direction (except for fuel oil).

Specifically, the price of E5 gasoline was adjusted down to 22,280 VND/liter. The price of RON 95 gasoline dropped to 23,290 VND/liter.

Similarly, diesel price dropped to VND20,830/liter. Kerosene price dropped to VND21,030/liter.

Retail price of gasoline today:

Item	Price from July 11 (unit: VND/liter)	Compared to previous period
Gasoline RON 95-III	23,290	- 260
Gasoline E5 RON 92-II	22,280	- 180
Diesel	20,830	- 340
Oil	21,030	- 180

World oil prices

In the world market, gasoline prices today, July 16, continued to decrease from the beginning of the week.

Data from Oilprice shows that at 8:57 a.m. on July 16 (Vietnam time), Brent oil price was listed at $84.68/barrel, down 0.2% from the previous session. WTI oil price was at $81.71/barrel, down 0.24% from the previous session.

At the beginning of the trading session on July 15 (US time), world oil prices were still on a downward trend.

According to data from Oilprice, at 9:13 p.m. on July 15 (Vietnam time), Brent oil price was listed at $84.84/barrel, down 0.22% from the previous session. WTI oil price was at $81.94/barrel, down 0.33% from the previous session.

Oil prices fell due to a stronger US dollar and weak demand from China (the world's top oil importer).

The sharp rise in the value of the US dollar after the assassination attempt on Donald Trump has put pressure on oil prices. A stronger US dollar makes oil more expensive for buyers holding other currencies.

Besides, weak demand from China also negatively impacted oil prices.

China's crude oil imports fell last week, in contrast to strong summer consumption in the United States.

China's economy slowed in the second quarter of 2024 due to a prolonged weakness in the property market, which weighed on fuel demand.

However, political turmoil in the Middle East has supported oil prices.

Talks aimed at ending the conflict in the Gaza Strip between Israel and Hamas were postponed on July 13.

According to Hamas, the Jewish state is not serious, continues to delay and obstruct the negotiation process, while still carrying out attacks with serious consequences for civilians.

Oil prices were also supported by the supply cut agreement between the Organization of the Petroleum Exporting Countries and its allies (OPEC+). Iraq's Oil Ministry said the country would offset any excess production from the start of 2024.

TB (according to Vietnamnet)

Source: https://baohaiduong.vn/gia-xang-dau-the-gioi-hom-nay-16-7-di-xuong-do-dong-usd-manh-len-387520.html