World oil prices today
World gasoline and oil prices continue to fluctuate strongly. At the end of the trading session on June 17, WTI and Brent oil prices increased by 0.97% and 0.75% respectively.
By this morning's session, both oil commodities turned down. At 7:50 am (Vietnam time), WTI oil price was at 75.96 USD/barrel, down 0.83 USD/barrel, equivalent to a decrease of 1.08%. Previously, WTI oil closed at 76.79 USD/barrel and opened a new trading session at 75.82 USD/barrel.
Brent oil price was at 78.69 USD/barrel, down 0.02 USD/barrel, equivalent to a decrease of 0.03%. Brent oil closed the previous session at 78.71 USD/barrel and opened today's session at 71.72 USD/barrel.
According to analysts, the instability surrounding US-Iran relations makes cautious sentiment still prevailing in the oil market. In that context, the recovery of oil prices after the sharp decline in recent sessions is assessed as an understandable development as investors re-evaluate geopolitical risks.
On the supply side, the market continues to be affected by the decline in oil inventories in the US. According to the US Energy Information Administration (EIA), the country's crude oil inventories have decreased for the 10th consecutive week due to increased demand, bringing inventories to their lowest level since 1985.
Experts also believe that the US and many other countries are continuing to use strategic oil reserves and commercial reserves to minimize the impact from the risk of supply disruption in the Middle East.
However, in the medium and long term, the prospect of oversupply is still a factor putting pressure on oil prices. In the preliminary market report for 2027, the International Energy Agency (IEA) forecasts that global oil supply may increase by about 8 million barrels/day, while demand will only increase by about 2 million barrels/day. This difference may cause the market to face a significant oversupply in the coming years.
The IEA believes that in the short term, if the peace agreement between the US and Iran is maintained, many countries may take advantage of supplementing their oil reserves that have declined in the past or expanding strategic reserves.
Oil and gas industry experts note that the process of completely restoring exploitation output and oil refining capacity to pre-conflict levels may last from a few weeks, months, or even years, depending on geopolitical developments in the Middle East. This means that the oil market will continue to face unpredictable fluctuations in the coming time.
Domestic gasoline prices today
On June 18, 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 domestic gasoline and oil mentioned above was adjusted by the inter-Ministry of Industry and Trade - Finance from 3 pm on June 11. In which the price of E5RON92 gasoline decreased by 452 VND/liter; E10 RON95-III gasoline decreased by 270 VND/liter; diesel oil 0.05S decreased by 989 VND/liter; mazut oil 180 CST 3.5S decreased by 1,037 VND/kg.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 1,450 VND/liter;
+ Diesel oil 0.001S-V: 1. 450 VND/liter.
+ E10 RON 95-III gasoline: 1,250 VND/liter
+ E5 RON 92 - II gasoline: 1,250 VND/liter
- Hoang Trong General Trading Co., Ltd.:
+ Hai Linh Warehouse, Hai Phong: E10 gasoline: 1. 200 VND/liter.
+ Bac Ninh Warehouse: E10 gasoline: 1,050 VND/liter.
+ Nam Vinh, Petec, Dinh Vu warehouses: E10 gasoline: 1, 200 VND/liter
+ An Phat Warehouse: Diesel oil 0.05S: 1. 550 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 RON 95 - III gasoline: 1, 300 VND/liter.
+ Diesel oil 0.05S-II: 2. 200 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 continue to decrease.
In which:
- E10 gasoline reduced by about 1,000 VND/liter;
- E5 RON 92 - II gasoline reduced by about 1,200 VND/liter;
- Diesel oil decreased by about 2,800 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.
