Oil prices suddenly turned to rise sharply

Yesterday (April 14), oil prices recorded momentum after many days of sharp declines. Until today (April 15), oil prices continued to increase.

Specifically, according to data from Oilprice, at 11:30 am today (April 15, Vietnam time), the price of Brent crude oil for June delivery was trading at 111.7 USD/barrel, up 2.92 USD. , equivalent to 2.68% compared to yesterday. At the same time, the price of US light sweet crude oil (WTI) for May delivery was trading at 107 USD/barrel, up 2.7 USD, equivalent to 2.59% compared to yesterday.

According to analysts, world oil prices rose again after The New York Times reported that Europe was preparing a draft to ban oil imports from Russia. But the ability of this ban to be implemented for all 27 members of the European Union (EU) is still uncertain, because some members of the EU are still significantly dependent on Russian energy supplies.

If this embargo is passed, the world could lose more than 7 million barrels of Russian oil per day instead of just 3 million barrels expected for May.

Meanwhile, Russia said it would push the oil market to Asian customers to avoid sanctions of Western countries.

World oil prices have risen to record levels due to the impact of the war between Russia and Ukraine. At one point, the price of oil reached a peak of nearly 140 USD/barrel. However, according to the International Energy Agency (IEA), the supply-demand gap in the oil market is narrowing.

Oil prices fell due to weak demand. Many countries around the world have sought to ease the pressure on the oil market. In particular, China’s blockade orders in recent times also helped lower oil prices.

Although oil prices have cooled down recently, according to the IEA, oil prices are still high and may threaten the outlook. economy Global.

In the domestic market, during the operating period on April 12, the Inter-Ministry of Industry and Trade – Finance decided to reduce gasoline prices. Accordingly, the price of gasoline has decreased by more than 800 VND / liter, the price of oil has decreased by more than 700 VND / liter.

Currently, the price of gasoline E5 RON 92 is not more than 26,471 VND/liter; gasoline RON 95 not exceeding 27,317 VND/liter; diesel oil not exceeding 24,380 VND/liter; kerosene not exceeding 23,027 VND/liter and fuel oil not exceeding 20,929 VND/kg.