World oil prices decrease, domestic gasoline prices may decrease by 300 VND

Specifically, Brent oil price decreased by 1.42 USD, equivalent to 1.8%, to 79.23 USD/barrel. US WTI oil prices fell by 1.46 USD, equivalent to 1.9%, to 74.11 USD/barrel.

Oil prices fluctuated as the market cautiously watched developments in the Red Sea.

Several major shipping lines have resumed operations across the Red Sea after the US launched military operations to block attacks by the Houthi forces and ensure commercial safety for cargo ships.

According to Reuters, Danish transport company Maersk has planned to deploy dozens of container ships across the Suez canal and the Red Sea in the coming weeks, after calling for a temporary halt to operations due to attacks on ships by the Iran-backed Houthi forces in Yemen.

Not only Maersk, French transport company CMA CGM also said it is connecting the route across the Red Sea after a multinational special forces were deployed to the area.

Despite concerns about the situation in the Middle East and the re-routing of ships by the shipping company, actual supply has not been affected, according to Reuters.

A report from the American Petroleum Institute (API) said that US crude oil inventories in the week ended December 22 increased by 1.837 million barrels. This figure contrasts with the expected decrease of 2.6 million barrels in the Reuters poll.

In another development, analysts said that oil production in Russia is expected to stabilize, even increase next year as Moscow has largely overcome Western sanctions.

Domestic retail prices of gasoline and oil will be adjusted in the price management period of the Ministry of Finance - Industry and Trade this afternoon. It is expected that oil prices will continue to maintain a slight increase, while gasoline prices will decrease slightly by about 100-300 VND/liter.