According to a survey at 2:50 p.m. on February 15 (Vietnam time), WTI oil prices decreased by 0.55 USD/barrel (0.77%), down to 70.74 USD/barrel. Brent oil prices also fell by 0.28 USD/barrel (0.37%), down to 74.74 USD/barrel.
According to Reuters, oil prices have stabilized on Friday thanks to the prospect of a peace agreement between Russia and Ukraine, which could ease global supply disruptions by ending sanctions against Moscow. However, oil price declines have been limited by the US delaying the application of immediately responding tariffs.
This week, US President Donald Trump ordered US officials to begin negotiations on ending the war in Ukraine after Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy expressed their desire for peace in private phone calls with him.
Lifting sanctions on Moscow in the event of a peace deal will boost global energy supplies.
The International Energy Agency (IEA) has said in its latest oil market report that Russian oil exports could be maintained if solutions are found for the latest US sanctions packages.
This week, President Donald Trump ordered trade and economic officials to study the corresponding tariffs for countries that have imposed tariffs on US goods and present recommendations before April 1.
IG market strategist Yeap Jun Rong said: " Positive developments in the trade sector, along with the US postponement of tariffs, have facilitated oil prices to recover this morning. The risk environment is gradually warming up with the prospect of achieving deeper trade consensus".
In addition, to limit losses, US Treasury Secretary Scott Bessent said in an interview that the US could put maximum economic pressure on Iran. President Donald Trump has reduced Iran's oil export turnover to nearly zero in his first term after reimposing sanctions.
JPMorgan analysts said on Friday that global oil demand has skyrocketed to 103.4 million barrels per day (bpd), up 1.4 million barrels compared to last year.
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, gasoline prices may decrease slightly.
In the adjustment period of February 13, the price of E5 RON 92 gasoline increased by 156 VND/liter to 20,598 VND/liter, while RON 95-III gasoline increased by 146 VND/liter to 21,074 VND/liter.
Prices of oil products have also increased simultaneously. Of which, diesel 0.05S is priced at VND19,573/liter (up VND19/liter); kerosene has a new price of VND19,53/liter (up VND59/liter); mazut is priced at VND17,779/kg (up VND425/kg).
