Oil price Tin tức

Traders desperate to avoid owning oil fled the markets on Monday, sending crude futures into negative territory for the first time ever, in recognition that coronavirus pandemic has sapped demand for fuel.

Vietnam reduced prices of gasoline by about VND600 ($0.025) per liter, a seventh consecutive time since early this year, Ministries of Industry and Trade and Finance announced the reduction of prices.

Vietnamese government has announced to cut retail fuel prices the second time this month and sixth time from the beginning of 2020 as international crude oil prices dropped sharply.

Huge oil demand destruction on coronavirus and the on-going oil price war are expected to wipe $2.3 billion off Vietnam Oil & Gas Group when the price cling to the $30 mark.

Vietnam Oil and Gas Group, or PetroVietnam, said on Wednesday it is considering stockpiling crude oil amid low prices, while exploring measures to cope with the impact of the coronavirus.

Binh Son Refining and Petrochemical JSC (BSR) enjoyed unfavourable business results since its profit margin was affected by fluctuations in global oil prices.

Giá dầu thô tại Mỹ WTI và dầu Brent đều tăng trở lại sau số liệu mới nhất cho thấy tình hình thất nghiệp ở Mỹ đã được cải thiện.