At 6:15 a.m. on July 11, WTI oil price was at 66.88 USD/barrel, down 1.23 USD/barrel, while US Brent oil price stood at 68.87 USD/barrel, down 1.08 USD/barrel.
US crude oil inventories rose, while gasoline and distillate inventories fell last week, the US Energy Information Administration (EIA) said on Wednesday.
Specifically, crude oil reserves jumped 7.1 million barrels to 426 million barrels in the week ending July 4, in stark contrast to the forecast of a 2.1 million barrel decrease from a survey by the EIA. Reuters .
Keeping a lid on oil prices is the resurgence of attacks on the key global shipping route in the Red Sea over the past week, which many sources say were carried out by Yemen's Houthi forces, allied with Iran.
But oil prices were also supported by the EIA's forecast on July 8 that the United States will produce less oil in 2025 than previously forecast, as lower oil prices force U.S. producers to cut back on operations.
US President Donald Trump said on July 8 that he would announce a 50% tariff on copper, aimed at boosting US production of a metal vital to electric vehicles, military equipment, the power grid and many other consumer goods.
Mr Trump made the announcement as he postponed the tariff deadline to August 1, raising hopes among major trading partners that a deal to reduce tariffs could still be reached, although many companies remain uncertain about the path forward.
In another development, OPEC+ producers are expected to have another big output increase in September as they fully lift voluntary production cuts by members and the United Arab Emirates (UAE) moves to a larger production quota.
Domestic gasoline prices
During the operating period on July 10, the price of E5 RON92 gasoline increased by VND214/liter, not higher than VND19,659/liter; the price of RON95 gasoline increased by VND184/liter, not higher than VND20,090/liter.
Prices of various types of oil were adjusted in opposite directions. Specifically, diesel prices increased by 429 VND/liter, not higher than 18,837 VND/liter. Kerosene prices increased by 239 VND/liter, not higher than 18,371 VND/liter.
Fuel oil price alone decreased by 244 VND/kg, not higher than 15,563 VND/kg.
In this operating period, the management agency continues to not set aside or spend the gasoline price stabilization fund.
Since the beginning of 2025, domestic gasoline prices have undergone 27 adjustment sessions, including 10 decrease sessions, 12 increase sessions and 5 opposite sessions.
Source: https://baolangson.vn/gia-xang-dau-hom-nay-11-7-chua-ngung-giam-5052858.html
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