World oil prices decreased from the beginning of the session
Brent crude oil futures are currently at 64.20 USD/barrel, down 3 USD cents, compared to the previous trading session.
WTI oil price for similar terms is currently at 57.57 USD/barrel, up 6 cents, compared to the previous trading session.
Investors are still extremely cautious about the lackluster global economy.
US job growth rebounded strongly in June, employers added 224,000 jobs last month, the most in five months.
But the trade war between the US and China has dampened global economic growth prospects and oil demand.
However, the lack of concrete progress in resolving the fierce trade war between the US and China could keep the US Federal Reserve from cutting interest rates at its policy meeting in late July.
White House economic adviser Larry Kudlow confirmed that the US and China will meet next week to continue trade negotiations.
However, orders for Japanese core machinery fell for the first time in five months in May, causing a major decline. This is a worrying sign that global trade tensions are damaging the company's investment.
Geopolitical tensions in Iran directly affect oil prices.
Iran has said it will soon increase uranium enrichment beyond the 2015 nuclear deal, and issued a caution warning from US President Donald Trump, who withdrew from the treaty last year.
Edward Moya, senior market analyst at OANDA, said that geopolitical risks are still high.
Meanwhile, US energy companies this week reduced the number of oil drilling rigs in operation for the first time in three weeks as drillers implemented spending cuts this year.
Domestic gasoline prices
Gasoline products are adjusted up from July 2. Accordingly, RON95-III gasoline: increased by 383 VND/liter; E5RON92 gasoline: increased by 420 VND/liter; Diesel 0.05S: increased by 292 VND/liter; kerosene: increased by 326 VND/liter; mazut 180CST 3.5S: increased by 105 VND/kg.
Thus, the selling price of popular consumer gasoline products on the market is not higher than the price:
- E5RON 92 gasoline: not higher than VND 19,653/liter;
- RON95-III gasoline: not higher than VND 20,517/liter;
- Diesel 0.05S: not higher than VND 16,949/liter;
- Kerosene: not higher than VND 15,937/liter;
- mazut 180CST 3.5S: not higher than 15,220 VND/kg.
- Mazut 180CST 3.5S oil is not higher than 15,354 VND/kg
