According to a survey at 4:10 p.m. on April 22 (Vietnam time), WTI oil price increased by 1.01 USD/barrel (up 1.62%), to 63.42 USD/barrel. Brent oil price increased by 0.85 USD/barrel (up 1.28%), to 67.11 USD/barrel.
"Some of the cover-up activities for fake sales came after a big sell-off on Monday," said Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment, a unit of Nissan Securities.
"However, concerns about the possibility of a recession due to the tariff war still exist. It is predicted that WTI prices may trade in the range of 5565 USD at the present time due to the uncertainty related to tariffs" - Mr. Hiroyuki Kikukawa said.
According to Kikukawa, the growing uncertainty surrounding US monetary policy is expected to have a negative impact on financial markets and the economy in general. This raises concerns that this could lead to a decline in crude oil demand.
Vivek Dhar, an analyst at Commonwealth Bank of Australia, said in a note: "Our view is that Iran's oil exports face the risk of an impending decline as US sanctions have eased following ongoing negotiations between the US and Iran."
For the domestic market, representing a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. According to this development, it is forecasted that in the next price management period, retail prices of gasoline may increase sharply.
In particular, RON 95 gasoline price may increase by about 600-800 VND/liter; E5 gasoline may increase by about 500-700 VND/liter; Diesel oil increases by about 400-600 VND/liter.
Domestic retail gasoline prices on April 22, 2025 will be applied according to the adjustment session from 3:00 p.m. on April 17 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on April 17, the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND18,498/liter (down VND384/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND18,856/liter (down VND351/liter).
Prices of oil products increased and decreased in opposite directions. Of which, diesel 0.05S is priced at VND17,037/liter (down VND206/liter); kerosene has a new price of VND17,184/liter (down VND229/liter); mazut is priced at VND15,960/kg (up VND58/kg).
