Oil prices fell on Friday but posted their fourth straight weekly gain, as the latest US sanctions on Russia’s energy trade raised concerns about oil supply disruptions, Reuters reported.
As recorded at 14:18 (Vietnam time), WTI oil price is 77.39 USD/barrel, down 0.46 USD, equivalent to a decrease of 0.59%. Brent oil is at 80.73 USD/barrel, down 0.55 USD/barrel, equivalent to a decrease of 0.69%.
"Sanctions on Russia are causing supply tightness in Europe, India and China," said Phil Flynn, senior analyst at Price Futures Group.
The Biden administration last week announced broader sanctions targeting Russian oil producers and tankers. Investors are also assessing the potential impact of President-elect Donald Trump returning to the White House on Monday, where Trump’s Treasury secretary pick has said he is ready to impose tougher sanctions on Russian oil.
According to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. According to current market developments, it is forecasted that in the next price adjustment period, petroleum prices will likely continue to increase sharply.
The domestic retail price of gasoline on January 18, 2025 will be applied according to the price at the management session on the afternoon of January 16 of the Ministry of Finance - Industry and Trade.
Accordingly, E5 RON 92 gasoline increased by 319 VND/liter, not higher than 20,750 VND/liter. RON 95 gasoline price increased by 201 VND/liter, not higher than 21,220 VND/liter.
Similarly, the prices of various types of oil also increased simultaneously. Of which, diesel increased by 539 VND/liter, not higher than 19,782 VND/liter; kerosene increased by 462 VND/liter, to 19,706 VND/liter and fuel oil increased by 999 VND/kg, not higher than 17,181 VND/kg.
