According to a survey at 5:15 p.m. on February 22 (Vietnam time), WTI oil prices decreased by 2.26 USD/barrel (3.12%), down to 70.22 USD/barrel. Brent oil prices also decreased by 2.05 USD/barrel (2.68%), down to 74.43 USD/barrel.
According to John Kilduff - a partner at again Capital in New York - the relatively stable situation in the Middle East, with a ceasefire in Gaza, has minimized risks in the market.
According to the US Energy Information Administration (EIA), investors continue to monitor increased crude oil inventories in the US, due to crop maintenance activities at refineries, which has led to a decrease in refined oil volumes.
This week, US energy companies added oil and gas drilling rigs for the fourth consecutive week, bringing the total number of drilling rigs in operation to the highest level since June, according to a report by Cooper Hughes energy services company.
The number of oil and gas drilling rigs, which is seen as an initial indicator of future output, has increased by four rigs to 592 rigs as of February 21. Traders are focusing on the possibility of disruption in oil supply, a factor that has contributed to limiting the decrease.
Russia said oil flow through the Caspian pip pip pipeline, an important route for crude oil exports from Kazakhstan, decreased by 30-40% on Tuesday after a Ukrainian drone attack on the pumping station.
However, Kazakhstan's Tengiz oil flow through the CPC was not interrupted, Russia's Interfax news agency reported on Friday.
Kazakhstan has pumped record volumes of oil despite losses to the CPC export route through Russia, according to industry sources. It is unclear how Kazakhstan can maintain this record pumping volume.
Forecasting the domestic market, a representative of a petroleum business assessed that gasoline prices will fluctuate according to the world petroleum situation. According to current market developments, it is forecasted that in the next price adjustment period, gasoline prices may continue to increase.
In particular, gasoline prices are forecast to increase by about 150-200 VND/liter; oil prices may increase by about 200 VND/liter.
Domestic retail prices of gasoline and oil on February 22, 2025 are applied according to the adjustment session from 3:00 p.m. on February 20 of the Ministry of Finance - Ministry of Industry and Trade:
E5 RON 92 gasoline is not more than 20,855 VND/liter.
RON 95-III gasoline is not more than VND 21,311/liter.
Diesel oil is not more than VND 19,063/liter.
Kerosene is not more than VND19,513/liter.
Fuel oil is not more than 17,596 VND/kg.
