World oil prices today
World gasoline and oil prices increased sharply. At the end of the weekend trading session, WTI oil price was at 82.47 USD/barrel, up 3.52 USD/barrel, equivalent to an increase of 4.46%. WTI oil price closed the previous trading session at 78.59 USD/barrel, and opened the weekend session at 79.55 USD/barrel.
Brent oil was at 88.10 USD/barrel, up 3.87 USD/barrel, equivalent to an increase of 4.59%. WTI oil closed the previous trading session at 84.23 USD/barrel, and opened the weekend session at 84.95 USD/barrel.
Thus, world oil prices have reached their highest level in more than a month, as tensions continue to escalate, raising concerns about the risk of disruption of energy supplies and maritime transport in the Middle East.
According to AFP, the US military on the night of July 16 (early morning of July 17 Vietnam time) launched a sixth consecutive air strike against Iran. The targets attacked included an airport, a train station in Bandar Abbas port city and two bridges in southern Iran, near the Strait of Hormuz.
The US military said the airstrikes were aimed at "continuing to weaken Iran's military capabilities". This is the latest development in the escalating fighting between the two countries over the past week.
In the context of increasing tensions, Iran continues to blockade the Strait of Hormuz, while the US imposed a blockade on Iranian seaports from July 15, making the risk of disruption of global energy transportation increasingly real.
Investors are particularly concerned about oil transportation through strategic shipping routes. After the ceasefire agreement between the US and Iran broke down, the flow of oil tankers through the Strait of Hormuz decreased significantly due to attacks targeting ships operating in the area. Before the conflict broke out, about 20% of global oil consumption was transported through this shipping route.
In addition, the risk of Houthi forces in Yemen blockading the transport route in the Red Sea at Iran's request also increases the risk to the global energy supply chain. If both the Strait of Hormuz and the maritime route in the Red Sea are disrupted at the same time, the world oil market will face great supply pressure.
Domestic gasoline prices today
On July 18, 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 16.
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 800 VND/liter
- E5 RON 92 - II gasoline increased by about 820 VND/liter;
- Diesel oil increased by about 3,000 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.
