Specifically, Brent oil price increased by 1.07 USD, equivalent to 1.3%, to 82.37 USD/barrel, while US WTI oil price increased by 1.1%, to 78.76 USD/barrel.
Reuters said that the booking rate in China for overseas trips during the upcoming Labor International Day holiday shows that the number of tourists to Asian countries continues to recover.
Bob Yawger, director of energy futures at Mizuho, commented that there is much optimism surrounding China's holidays due to the demand for air fuel.
Supply shortage due to OPEC+'s plan to cut additional supply from May also accelerated oil prices.
In addition, the prospect of consumption in the Asian region also supports oil prices.
Russia is strengthening close ties with countries with strong oil demand such as China, India and a few other countries to boost oil sales. Russian crude oil exports returned to over 3 million barrels/day last week.
In addition, Russia has accepted many payments in rubles and yuan for energy exports in an effort to eliminate the US greenback and the Euro.
The share of the yuan in Russia's import payments in 2022 has increased from 4% to 23%.
In another development, oil exports in northern Iraq have shown positive signs of restarting after a month of stagnation.
Domestic retail prices of petroleum on April 25 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.
