According to the survey at 11:00 on April 1 (Vietnam time), WTI oil price increased by 0.16 USD/barrel (up 0.22%), to 71.64 USD/barrel. Brent oil price increased by 0.19 USD/barrel (up 0.25%), to 74.96 USD/barrel.
" short-term risks are on the rise as the US threatens to impose secondary tariffs on Russian and Iranian oil, forcing investors to re-evaluate risks related to oil supply more tightly," said Yeap Jun Rong, market strategist at IG.
However, Yeap also stressed that greater concerns remain around the possibility that upcoming tariffs could affect global demand, along with the prospect of increased supply from OPEC+ and the US.
The slowdown in global growth could reduce fuel demand, thereby offsetting any supply shortages due to Trump's threats.
The market will monitor weekly inventory data from the American Petroleum Institute later on Tuesday, before releasing official figures from the Energy Information Administration on Wednesday.
Meanwhile, a weaker US dollar on Tuesday also supported market sentiment. Weaker Dolar makes crude oil cheaper for holders of other currencies, thereby boosting demand.
For the domestic market, according to a representative of a petroleum business, 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 increase.
Of which, the price of RON 95 - III gasoline is forecast to increase by about 330 VND/liter; E5 gasoline increases by about 240 VND/liter; Diesel increases by about 170 VND/liter.
Domestic retail gasoline prices on April 1, 2025 will be applied according to the adjustment session from 3:00 p.m. on March 27 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on March 27, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND 20,032/liter (up VND 337/liter). RON 95-III gasoline price increased compared to the previous adjustment period, priced at VND 20,424/liter (up VND 337/liter).
Prices of oil products fluctuated in different directions. Of which, diesel 0.05S is priced at VND18,217/liter (down VND324/liter); kerosene has a new price of VND18,524/liter (up VND406/liter); mazut is priced at VND16,902/kg (down VND53/kg).
