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Oil Prices on April 23: Slight Increase as U.S. Crude Stocks Decline and Fed Sends Positive Signals
Oil Prices on April 23: Slight Increase as U.S. Crude Stocks Decline and Fed Sends Positive Signals
23 tháng 4 2025・ 09:26
Global oil prices continued their upward trend on April 23, as the market responded to geopolitical developments, declining U.S. crude inventories, and a more conciliatory tone from U.S. President Donald Trump toward the Federal Reserve (Fed), all of which helped support a modest rise in oil prices.
1. Crude Oil Price Update – April 23, 2025
As of the morning of April 23 (Vietnam time):
WTI crude oil was trading at $64.31 per barrel, up $1.23 (+1.95%) from the previous session.
Brent crude oil stood at $67.79 per barrel, gaining $0.35 (+0.46%).
This mild increase reflects ongoing concerns over global supply and a complex geopolitical backdrop that continues to shape the global energy market.
2. U.S. Imposes New Sanctions on Iran
On April 22, President Donald Trump's administration announced new sanctions targeting Seyed Asadoollah Emamjomeh, a key figure in Iran’s crude oil and liquefied petroleum gas (LPG) transportation network, along with his affiliated companies.
According to U.S. Treasury Secretary Scott Bessent, Emamjomeh was accused of illegally exporting thousands of LPG shipments—including from the U.S.—to bypass sanctions and generate revenue for Tehran.
This move has heightened fears of further supply disruptions in the already-volatile Middle East region.
3. Trump Softens Tone on Fed, Sends Positive Signal on China Trade
In addition to geopolitical concerns, the oil market received a boost from President Trump’s unexpectedly conciliatory stance toward the Federal Reserve after weeks of criticism aimed at Fed Chair Jerome Powell.
During a press briefing on April 22, Trump withdrew his threat to fire Powell and stated he would be “more gentle” in upcoming trade negotiations with China. He also hinted at the possibility of reducing tariffs on Chinese goods if a trade deal is reached—though he made it clear that tariffs would “not go down to zero.”
Despite these signals, Trump acknowledged that upcoming talks with Beijing would still face significant challenges.
4. U.S. Crude Inventories Show Sharp Decline
Another factor supporting oil prices was data from the American Petroleum Institute (API), which revealed that U.S. crude oil inventories dropped by approximately 4.6 million barrels last week.
Experts note that this larger-than-expected decline signals a recovery in energy demand, despite lingering concerns over a potential global economic slowdown.
Later today (April 23), the U.S. Energy Information Administration (EIA) will release official figures. A Reuters poll of analysts forecasts a further decline of around 800,000 barrels in crude stocks for the past week.
5. Oil Market Outlook: Cautious Optimism Amid Global Uncertainty
While prices are gradually recovering, the oil market remains under pressure from global recession fears, stemming from prolonged trade tensions and monetary policy instability.
According to analysts, if the U.S.-China trade conflict sees positive resolution, global oil demand could rebound more sharply, offering stronger support for oil prices in the mid-term.
6. Domestic Fuel Prices in Vietnam – April 23
In the Vietnamese market, retail fuel prices remain as follows:
E5 RON 92 gasoline: not higher than 18,498 VND/liter
RON 95-III gasoline: not higher than 18,856 VND/liter
Diesel 0.05S: not higher than 17,037 VND/liter
Kerosene: not higher than 17,184 VND/liter
Mazut 180CST 3.5S: not higher than 15,960 VND/kg
📌 Note: Prices are set to be adjusted by the Ministry of Industry and Trade and the Ministry of Finance during the next price review on April 24.
Conclusion: Oil Prices Rise, but Market Still Faces Headwinds
Oil prices on April 23 continued their modest increase as geopolitical dynamics, sanctions, and U.S. policy changes combined to impact global supply and demand. However, many variables remain, including upcoming U.S.-China trade talks and the EIA’s official inventory report, both of which could significantly influence short-term market direction.
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