According to a survey at 7:55 a.m. on March 30 (Vietnam time), WTI oil prices decreased by 0.56 USD/barrel (up 0.8%), down to 69.36 USD/barrel. Brent oil price decreased by 0.58 USD/barrel (down 0.79%), down to 72.76 USD/barrel.
JPMorgan analysts have informed customers that the current trade war has made investors worried about the possibility of an economic downturn.
" Concerns about a trade war, along with increased uncertainty in US policy, are severely affecting market sentiment," they said.
JPMorgan also noted that, despite the increasing risk of recession, oil demand indexes have been relatively positive recently.
Data from the Energy Information Administration shows that US crude oil reserves fell by 3.3 million barrels to 433.6 million barrels last week.
"The main topic this week is the Trump administration increasing pressure on the Putin regime in Venezuela," said Amarpreet Singh, an analyst at Barclays.
Trump announced a new 25% tariff on potential potential buyers of Venezuelan crude oil on Monday, just days after the US imposed sanctions on Chinese imports from Iran.
Singh said the measures could aggravate the expected reduction of 200,000 barrels per day in Venezuela's crude oil production this year. This creates more instability for buyers and disrupts Venezuela's oil trading activities with China - the leading buyer market.
The oil market is adjusting expectations for global supply due to US sanctions on Venezuela and Iran, with Trump's commitment to bring Iran's oil exports to zero. The US has imposed four sanctions targeting Iran's oil sales since President Trump returned to the White House.
StoneX analyst Alex Hodes said the second quarter will be tighter than initially predicted. "If there is a decline in crude oil supply from Venezuela or Iran, it will certainly be a positive development."
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, gasoline prices may increase slightly.
Domestic retail gasoline prices on March 30, 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).
