World oil prices today
World oil prices reversed and increased sharply after the previous deep decline session. At the end of the trading session on June 10, WTI and Brent oil prices increased by 2% and 1.8% respectively.
By this morning's session, the two oil commodities increased and decreased in opposite directions. At 8:08 am (Vietnam time), WTI oil price was at 92.06 USD/barrel, up 2.03 USD/barrel, equivalent to an increase of 2.25%. WTI oil price closed the previous trading session at 90.03 USD/barrel and opened today's session at 92 USD/barrel.
Brent oil price was at 94.68 USD/barrel, down 0.07 USD/barrel, equivalent to a decrease of 0.07%. Brent oil price closed the previous trading session at 94.75 USD/barrel, and at the opening session today at this level.
According to analysts, world oil prices rose sharply again after US President Donald Trump announced that Iran would continue to face new attacks after a nighttime artillery battle. This is considered one of the most serious clashes since the ceasefire was established in April, increasing concerns about the risk of disruption of oil supplies from the Middle East.
However, the upward momentum of oil prices narrowed towards the end of the session when Mr. Trump said that the US military had secretly escorted ships carrying more than 100 million barrels of oil through the Strait of Hormuz. In the context that global oil consumption demand is currently around 100 million barrels/day, the US President said that this move has contributed to stabilizing supply and curbing the upward momentum of oil prices.
Experts believe that the psychology of the oil market is constantly changing according to the developments of geopolitical tensions. Oil prices have shifted from anxious to indifferent, and then returned to anxiety as confrontations between the US and Iran flared up again. Although diplomatic efforts are still being promoted, the latest military developments have caused the geopolitical risk factor to return, directly affecting the energy market.
Besides geopolitical factors, data from the US Energy Information Administration (EIA) also supported oil prices. Accordingly, US crude oil inventories decreased by 7.2 million barrels in the week ending June 5, significantly higher than analysts' forecast of a decrease of 4 million barrels. The main reason is that refineries are increasing the use of crude oil to cope with the risk of supply shortages from the Middle East.
EIA also said that oil in the US Strategic Petroleum Reserve (SPR) has fallen to its lowest level since August 2023. The continuous decline in crude oil inventories globally is adding upward pressure on the market.
However, the upward momentum of oil prices is still limited by China's lower-than-expected import demand for crude oil. According to Mr. Tamas Varga, transportation through the Strait of Hormuz, although partially resumed, is still taking place at a limited level. Oil supply has therefore not been seriously disrupted as initially feared. Some ships have returned to this maritime route, but the flow is still significantly lower than before the conflict broke out, thereby helping to curb the upward momentum of oil prices.
Domestic gasoline prices today
On June 11, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The retail price of gasoline and oil in the country mentioned above was adjusted by the inter-Ministry of Industry and Trade - Finance from 3:00 PM on June 4. In which the gasoline price decreased sharply by nearly 1,500 VND/liter, and diesel oil decreased by nearly 800 VND/liter.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 500 VND/liter;
+ Diesel oil 0.001S-V: 300 VND/liter.
+ E10 RON 95-III gasoline: 500 VND/liter
+ E5 RON 92 - II gasoline: 400 VND/liter
- Hoang Trong General Trading Co., Ltd.:
+ Hai Linh Warehouse, Hai Phong: Diesel Oil 0.05S: 250 VND/liter; E10 RON 95-III gasoline: 450 VND/liter.
+ Bac Ninh Warehouse: Diesel Oil 0.05S: 100 VND/liter; E10 RON 95-III gasoline: 300 VND/liter.
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 RON 95 - III gasoline: 100 VND/liter.
+ Diesel oil 0.05S-II: 150 VND/liter.
Today's gasoline and oil prices are for reference only and may change according to market developments.
Refer to more articles about gasoline and oil prices HERE.
