Oil prices today May 15, 2025: WTI and Brent oil fell sharply
Oil prices today, May 15: WTI and Brent oil prices fell sharply after many consecutive sessions of increase
World oil price today May 15, 2025
Meanwhile, the international market recorded a sharp decline in oil prices after many consecutive sessions of increase. As of 7:00 a.m. on May 15 (Vietnam time), WTI oil price decreased by 1.17 USD/barrel (equivalent to 1.85%), down to 61.98 USD/barrel. Brent oil price also decreased by 0.54 USD/barrel (about 0.81%), down to 66.09 USD/barrel.
The main reason for the drop in world oil prices is the sudden increase in US crude oil inventories. According to the US Energy Information Administration (EIA), oil inventories in the week ending May 9 increased by 3.5 million barrels, contrary to the previous forecast of a decrease of 1.1 million barrels.
The American Petroleum Institute (API) also recorded an increase in inventories of up to 4.3 million barrels. In addition, the amount of net oil imported by the US also increased by more than 422,000 barrels per day.
Although gasoline and distillate inventories in the US are on a downward trend – a positive signal in the long term, in the short term, the market is still concerned about the risk of oversupply, especially when demand has not shown clear signs of improvement.
In addition, the recovery of the US dollar also put pressure on oil prices. When the greenback strengthens, oil priced in dollars becomes more expensive for investors holding other currencies, thereby reducing purchasing power.
On the global supply side, OPEC+ continues to pump oil into the market. However, the organization has reduced its forecast for increased production from non-member countries in 2025, down from 900,000 barrels/day to 800,000 barrels/day. The US also had its production forecast revised down by 100,000 barrels/day.
Analysts say that if supply continues to increase while demand has not recovered, the oil market will face a prolonged imbalance. Investors are currently waiting for new signals from the US Federal Reserve (Fed) and the next report from the EIA to assess the price trend in the coming time.
Domestic gasoline prices today May 15, 2025
Domestic gasoline prices on May 15, 2025 remain unchanged according to the adjustment announced by the Ministry of Industry and Trade and the Ministry of Finance since May 8. Accordingly, all popular gasoline products have decreased in price compared to the previous period.
Specifically, E5 RON 92 gasoline decreased by 377 VND/liter, currently not higher than 18,777 VND/liter. RON 95 gasoline decreased by 407 VND/liter, with a maximum price of 19,179 VND/liter. Diesel 0.05S also decreased by 550 VND/liter, to 16,809 VND/liter. Kerosene decreased sharply by 623 VND/liter, down to 16,941 VND/liter. Meanwhile, 180CST 3.5S mazut oil decreased the most, by 665 VND/kg, to 15,533 VND/kg.
In this operating period, the management agency did not set aside or spend the Petroleum Price Stabilization Fund for all the above-mentioned products. This shows that the current prices reflect the market trend, without intervention from the stabilization fund.