According to a survey at 09:10 on May 15 (Vietnam time), WTI oil prices decreased by 1.23 USD/barrel (down 1.95%), down to 61.92 USD/barrel. Brent oil price decreased by 0.72 USD/barrel (down 1.09%), down to 65.10 USD/barrel.
Yuki Takashima, an economist at Nomura Securities, said: "This new sell-off is driven by expectations that a nuclear deal between the US and Iran will ease recent US sanctions on Iran, which could cause an imbalance in global crude oil supply and demand."
Saudi Arabian Foreign Minister Prince Faisal bin Farhan Al-Saud said on Wednesday that Saudi Arabia fully supports nuclear talks between the United States and Iran, and hopes to achieve positive results.
Meanwhile, the US Treasury Department announced that it has issued sanctions aimed at Iran's efforts to locally produce ballistic missile parts. The measures come after Tuesday's sanctions on about 20 companies in a network that Washington accused of transporting Iranian oil to China for a long time.
The sanctions were imposed after the fourth round of talks between the US and Iran in Oman to resolve disputes over Iran's nuclear program.
The Organization of the Petroleum Exporting Countries (OPEC) and its alliancing producers, also known as OPEC+, have increased oil supply, although OPEC has cut its forecast for oil supply growth from the United States and other producers outside the OPEC+ group this year, according to a statement on Wednesday.
For the domestic market, Mr. Doan Tien Quyet - data analysis expert of VPI - predicted that the retail price of E5 RON 92 gasoline could increase by 225 VND (1.2%) to 18,995 VND/liter. Meanwhile, RON 95-III gasoline may increase by 374 VND (1.9%) to 19,544 VND/liter.
VPI's model predicts that mazut prices may decrease by VND 326 (2.1%) to VND 15,204/kg. Diesel is forecast to increase by 1% to VND16,966/liter. Kerosene may increase slightly by 0.2% to VND 16,977/liter.
VPI forecasts that the Ministry of Finance and Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.
According to a representative of a petroleum business, domestic 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, retail prices of gasoline may increase.
In particular, RON 95 gasoline price is forecast to increase by about 380 VND/liter; E5 gasoline may increase by about 370 VND/liter; Diesel oil increases by about 350 VND/liter.
Domestic retail gasoline prices on May 15, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 8 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on May 8, the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND18,777/liter (down VND377/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND19,179/liter (down VND407/liter).
Prices of oil products have decreased simultaneously. Of which, diesel 0.05S is priced at VND 16,809/liter (down VND 550/liter); kerosene has a new price of VND 16,941/liter (down VND 623/liter); mazut is priced at VND 15,533/kg (down VND 665/kg).
