According to a survey at 22:20 on February 16 (Vietnam time), WTI oil price decreased by 0.55 USD/barrel (0.77%), down to 70.74 USD/barrel. Brent oil prices also fell by 0.28 USD/barrel (0.37%), down to 74.74 USD/barrel.
According to Reuters, oil prices have stabilized thanks to the prospect of a peace agreement between Russia and Ukraine, which could ease global supply disruptions by ending sanctions against Moscow. However, oil price declines have been limited by the US delaying the application of immediately responding tariffs.
Recently, US President Donald Trump has ordered trade and economic officials to study "go back and forth" tariffs on countries that apply tariffs on US goods. This move could affect the global energy market and trade.
Regarding global oil demand, analysts at JPMorgan bank said oil demand has skyrocketed to 103.4 million barrels/day, up 1.4 million barrels/day compared to last year.
The bank said initial demand for transportation and heating fuel was quite slow, but increased in the second week of February, showing that the gap between actual demand and demand is expected to narrow soon.
Regarding domestic gasoline prices, a representative of a gasoline trading enterprise assessed that it will fluctuate according to the world gasoline situation. According to current market developments, it is forecasted that in the next price adjustment period, gasoline prices may decrease slightly.
In the adjustment period of February 13, the price of E5 RON 92 gasoline increased by 156 VND/liter to 20,598 VND/liter, while RON 95-III gasoline increased by 146 VND/liter to 21,074 VND/liter.
Prices of oil products have also increased simultaneously. Of which, diesel 0.05S is priced at VND19,573/liter (up VND19/liter); kerosene has a new price of VND19,53/liter (up VND59/liter); mazut is priced at VND17,779/kg (up VND425/kg).
According to the report of the Ministry of Industry and Trade, the world petroleum market from February 6, 2025 to February 12, 2025 is affected by factors such as: new US sanctions on Iranian oil, signs of increased tensions in the Middle East, China's retaliation in retaliation for tariffs on US goods, military conflict between Russia and Ukraine continues...
The above factors have caused the world oil price in recent days to generally tend to increase.
