In the world market, crude oil prices continued to decline sharply in this morning’s trading session as the anti-COVID-19 blockade orders persisted at the top oil importer – China raised concerns about the outlook for fuel demand. Whether.
World petrol price today

The price of US WTI light sweet crude oil fell 0.31% to $102.78/barrel at 7:00 a.m. (Vietnam time) on May 10. Brent crude oil price for July delivery plummeted 6.35% to 105.25 USD/barrel.

World petrol price list updated at 7:00am on May 10, 2022

Crude oil prices fell about 6% on Monday, May 9, as prolonged anti-COVID-19 lockdowns at top oil importer China raised concerns about the outlook for demand. fuel demand.

Closing the session, the price of Brent crude oil fell 5.7% to $105.94 per barrel, while the price of US WTI crude fell 6.1% to $103.09. Both oils are up about 35% this year.

Global financial markets are spooked by concerns about rising interest rates and a recession as tighter and broader anti-COVID-19 lockdowns in China have dented export growth. Exports of the world’s second-largest economy slowed down in April.

Andrew Lipow, president of Lipow Oil Associated in Houston, said the lockdown in China is having a negative impact on the oil market, which has been selling off along with equities.

China’s crude oil imports in the first four months of 2022 fell 4.8% from a year ago, but April imports increased by nearly 7%, according to Reuters.

China’s oil imports from Iran in April fell from peaks reached in late 2021 and early 2022, as demand from private refineries weakened after the anti-COVID blockade reduce fuel margins and increase imports of low-priced oil from Russia.

Wall Street stock indexes fell and the dollar hit a two-decade high, making oil more expensive for buyers in other currencies.

Elsewhere, Saudi Arabia, the world’s top oil exporter, lowered the price of crude oil sold to Asian and European markets in June.

In Russia, oil production increased in early May compared to April, and production activity stabilized, after output fell in April as Western countries imposed sanctions on Russia’s attack. into Ukraine, Deputy Prime Minister Alexander Novak said.

Domestic petrol price today

On the afternoon of May 4, the Inter-Ministry of Industry, Trade and Finance adjusted gasoline prices

Accordingly, after setting up and spending the stabilization fund, the selling prices of popular consumer petroleum products on the market are as follows: