According to a survey at 22:20 on March 10 (Vietnam time), WTI oil price decreased by 0.49 USD/barrel (down 0.73%), down to 66.55 USD/barrel. Brent oil price decreased by 0.58 USD/barrel (down 0.82%), down to 69.78 USD/barrel.
Oil prices fell on Monday due to concerns about the impact of tariff instability in the US, along with increased output from OPEC+ producers putting pressure on oil prices. Meanwhile, potential sanctions on Iran's oil exports have prevented prices from falling further.
US President Donald Trump's protectionist policies have disrupted the global market. He imposed and then postponed tariffs on the largest oil suppliers, Canada and Mexico. At the same time, it has increased tariffs on Chinese goods, leading to China and Canada also applying their own tariffs.
John Kilduff - a partner of again Capital in New York, commented: "The market is in a state of instability and there are many factors to handle".
PVM analyst Tamas Varga said investors see US tariff instability as a negative factor. However, the expected sanctions on Iran and Russia could provide some short-term assistance.
Varga also stressed: "In general, prolonged uncertainty could make any oil rally short-lived."
Oil prices recovered from a six-month low on Friday after President Trump said the US would strengthen sanctions against Russia if it did not reach a ceasefire with Ukraine.
At the same time, the US is considering measures to ease sanctions on Russia's energy sector if Moscow agrees to end the war with Ukraine.
For the domestic market, a representative of a petroleum business said that - 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 continue to decrease.
In particular, the price of RON 95-III gasoline is forecast to decrease by about 650 - 750 VND/liter; E5 gasoline decreases by about 600 - 700 VND/liter; Diesel oil decreases by about 300 - 400 VND/liter.
In the most recent price adjustment, E5 RON 92 gasoline price decreased by 697 VND/liter, RON 95-III gasoline decreased by 710 VND/liter, kerosene decreased by 762 VND/liter, diesel decreased by 624 VND/liter, mazut decreased by 465 VND/kg.
Domestic retail gasoline prices on March 11, 2025 are applied according to the adjustment session from 3:00 p.m. on March 6 of the Ministry of Finance - Ministry of Industry and Trade:
E5 RON 92 gasoline is not more than VND19 961/liter.
RON 95-III gasoline is not more than 20,402 VND/liter.
Diesel oil is not more than VND 18,333/liter.
Kerosene is not more than VND 18,573/liter.
Mazut oil is not more than 17,150 VND/kg.
