Today's oil price, March 19, ended the trading session on March 18, oil prices decreased by about 1%. Brent oil price decreased by 51 cents, equivalent to 0.7%, to 70.56 USD/barrel; WTI oil price decreased by 68 cents, equivalent to 1.01%, to 66.9 USD/barrel.
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| Gasoline prices today March 19, ending the trading session on March 18, oil prices decreased by about 1%. (Source: Getty) |
Oil prices “cooled down” after US President Donald Trump and his Russian counterpart Vladimir Putin discussed moves to end the three-year conflict in Ukraine. According to Reuters, Mr. Putin agreed to Mr. Trump’s proposal that Russia and Ukraine stop attacking each other’s energy infrastructure for 30 days.
Some analysts say that even if the US and Russia reach a ceasefire in Ukraine, it could take a long time for Russian energy exports to increase again.
Data from the US Energy Information Administration (EIA) shows that Russia produced about 9.2 million barrels of crude oil per day in 2024, down from 9.8 million barrels per day in 2022 and a record 10.6 million barrels per day in 2016.
In addition to the possibility of increased oil supplies from Russia, economic concerns related to Donald Trump's trade tariffs also put pressure on crude prices.
The Organization for Economic Cooperation and Development (OECD) warned that US tariffs would reduce economic growth in the US, Canada and Mexico, and put pressure on global energy demand.
Bob Yawger, director of energy futures at Mizuho, said the likelihood of a recession is growing and tariffs have become the No. 1 threat to the U.S. economy. Several U.S. tariffs on several countries are scheduled to take effect on April 2.
Analysts at energy analytics firm Wood Mackenzie predict Brent crude will average $73 a barrel this year, down $7 a barrel from 2024 due to U.S. tariffs and OPEC+ plans to increase production.
Earlier this month, OPEC+ decided to proceed with the planned increase in oil production in April.
Oil prices gave up early gains to a two-week high that were supported by concerns that unrest in the Middle East could reduce oil supplies and hopes that stimulus plans in China and Germany could boost fuel demand in the world’s top two economies.
Meanwhile, data from the American Petroleum Institute (API) showed that in the week ending March 14, US oil inventories increased by 4.593 million barrels, 2.5 times higher than the expected increase of 1.7 million barrels by analysts. In contrast, US gasoline and distillate inventories decreased by 1.708 million barrels and 2.146 million barrels, respectively.
Domestic retail prices of gasoline on March 19 are as follows:
E5 RON 92 gasoline is not more than 19,281 VND/liter. RON 95-III gasoline is not more than 19,649 VND/liter. Diesel oil not more than 17,898 VND/liter. Kerosene not more than 18,090 VND/liter. Fuel oil not exceeding 16,995 VND/kg. |
The above domestic retail price of gasoline will be adjusted by the Ministry of Finance - Industry and Trade at the price management session tomorrow afternoon.
Because world oil prices increased slightly last week, domestic oil prices are likely to also increase slightly.
In the most recent price adjustment, domestic gasoline prices also decreased. E5 RON 92 gasoline price decreased by 680 VND/liter, RON 95-III gasoline decreased by 753 VND/liter, kerosene decreased by 483 VND/liter, diesel decreased by 435 VND/liter, and fuel oil decreased by 155 VND/kg.
Source: https://baoquocte.vn/gia-xang-da-u-hom-nay-193-ha-nhiet-308102.html
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