Specifically, Brent oil prices fell by 1.96 USD, equivalent to 2.4%, to 80.51 USD/barrel - the lowest closing price since March 31. Similarly, US WTI oil prices fell by 1.69 USD, equivalent to 2.2% - the lowest level this month.
According to Reuters, in April, US consumer confidence fell to a 9-month low, raising concerns about an economic downturn.
Recently, the regional lending company First Republic (FRC.N) reported a deposit of more than 100 billion USD missing, raising concerns about a potential banking crisis.
Investors are still wary that the possibility of central banks raising interest rates could slow economic growth and reduce energy demand in the US, UK and the European Union.
The US Federal Reserve (Fed), the Bank of England and the European Central Bank are expected to raise interest rates at upcoming meetings.
Dennis Kissler - Senior Vice President in charge of transactions of BOK Financial - said that the short-term pressure is increased interest rates and the profitability rate of the refinery is narrowing. This could be a sign that demand is declining.
Earlier, oil prices were supported by optimism that holiday tourism in China will boost fuel demand and expectations of reducing US crude oil inventories.
In addition, Russia's strengthening of close relations with countries with strong oil demand such as China, India and a few other countries to promote oil sales also supports oil prices.
However, according to Phil Flynn, an analyst at Price Futures Group, oil prices seem to be recovering, but old concerns about banking are gradually reappearing.
Domestic retail prices of petroleum on April 26 are specifically as follows: E5 RON 92 gasoline is not more than VND 22,680/liter; RON 95 gasoline is not more than VND 23,630/liter; diesel is not more than VND 19,390/liter; kerosene is not more than VND 19,480/liter; mazut is not more than VND 15,649/kg.
