World oil prices today
World gasoline and oil prices simultaneously increased sharply. At the end of yesterday's trading session (July 14), WTI and Brent oil prices increased by 1.5% and 1.7% respectively.
This is the second consecutive increase, bringing Brent oil prices to the highest level since June 12 and WTI oil prices to the highest level since June 15.
By this morning's session, both oil commodities continued the upward trend. At 8:06 am (Vietnam time), WTI oil price was at 80 USD/barrel, up 0.66 USD/barrel, equivalent to an increase of 0.82%. WTI oil price closed the previous trading session at 79.34 USD/barrel and opened today's session at 79.80 USD/barrel.
Brent oil price was at 85.60 USD/barrel, up 0.18 USD/barrel, equivalent to an increase of 21%. Brent oil price ended the previous trading session at 85.42 USD/barrel and opened today's session at 85.44 USD/barrel.
World oil prices rose to their highest level in more than a month as tensions between the US and Iran continued to escalate, raising concerns about the risk of disruption of oil supply through the Strait of Hormuz.
The market is particularly concerned after the US re-imposed sanctions on Iran's maritime transport activities, increasing the risk of disrupting oil flows through the Strait of Hormuz. Before the conflict broke out, about 20% of global oil was transported through this strategic shipping route.
These developments increase geopolitical risks, thereby continuing to support the upward momentum of oil prices in the international market.
Meanwhile, on July 14, US President Donald Trump announced the cancellation of the plan to impose a fee of up to 20% on ships passing through the Strait of Hormuz, just one day after announcing this measure. Instead, the US shifted direction to promote trade and investment agreements with Gulf countries. However, the US military continued its attacks on Iran after Tehran announced the closure of the Strait of Hormuz.
Besides geopolitical factors, the market is still under pressure from concerns that rising energy prices could boost inflation, forcing central banks to maintain tight monetary policy for longer. This risks affecting global economic growth and weakening oil consumption demand.
In the US, newly released data shows that consumer inflation in June increased slower than expected thanks to cooling energy prices in the previous period. However, investors still expect the US Federal Reserve (Fed) to continue to maintain a cautious stance in operating interest rate policy.
Domestic gasoline prices today
On July 15, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The above domestic retail gasoline and oil prices are adjusted by Petrolimex according to the inter-ministry of Industry and Trade - Finance's management period from 3:00 PM on July 9.
Gasoline and oil discount today
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 350 VND/liter.
+ Diesel oil 0.05S-II: 0 VND/liter.
Domestic gasoline and oil price forecast for the next period
According to a representative of a gasoline and oil business, it is predicted that in the next price adjustment period, retail gasoline and oil prices may increase.
In which:
- E10 gasoline increases by about 150 VND/liter
- E5 RON 92 - II gasoline increased by about 140 VND/liter;
- Diesel oil increased by about 1,900 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.
