World oil prices today
World gasoline and oil prices continue to fluctuate strongly. At the end of the trading session on June 18, WTI and Brent oil prices increased by 0.25% and 0.38% respectively.
By this morning's session, both oil items simultaneously decreased. At 8:05 am (Vietnam time), WTI oil price was at 76.09 USD/barrel, down 0.51 USD/barrel, equivalent to a decrease of 0.67%. Previously, WTI oil closed at 76.60 USD/barrel and opened a new trading session at 76.46 USD/barrel.
Brent oil price was at 79.01 USD/barrel, down 0.42 USD/barrel, equivalent to a decrease of 0.53%. Brent oil closed the previous session at 79.43 USD/barrel and opened today's session also at 79.43 USD/barrel.
According to analysts, the oil market still contains many risks as geopolitical factors in the Middle East have not completely subsided. Any new signs of tension in the region, especially related to Israel, could quickly affect oil prices in the context that market sentiment is still very sensitive to security developments.
Experts believe that the scenario of oil transportation through the Strait of Hormuz being fully restored has largely been reflected in the current price. Therefore, if unexpected adverse developments appear, oil prices may be under pressure to increase again.
According to analysts, the 14-point memorandum between the US and Iran sets out a 60-day negotiation roadmap. During this time, Iran pledged to allow ships to pass through the Strait of Hormuz without charge, with the goal of bringing transport volume through this strategic maritime route back to a maximum level within 30 days.
Oil flows through the Strait of Hormuz are forecast to recover in stages. However, oil prices are unlikely to fall deeply as energy consumption demand continues to improve, while many countries are stepping up strategic oil reserves and trade reserves.
Some experts believe that oil exports from the Gulf region may return to pre-conflict levels by the end of July, while crude oil production is expected to recover around October. To restore export operations to normal, oil flow through the Strait of Hormuz needs to increase by about 13 million barrels/day, equivalent to nearly 70% of the pre-conflict level.
However, oil prices are unlikely to return to the pre-conflict price range in the short term. The level of 75 USD/barrel may become an important support threshold for the market in the context that supply still contains risks, while consumption demand continues to maintain an upward trend. Before the tension broke out, Brent oil prices mainly fluctuated in the range of 60-70 USD/barrel in the first two months of the year.
Domestic gasoline prices today
On June 19, 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 were adjusted by the inter-Ministry of Industry and Trade - Finance from 3 pm on June 18. In which gasoline and oil prices simultaneously decreased.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 800 VND/liter;
+ Diesel oil 0.001S-V: 700 VND/liter.
+ E10 RON 95-III gasoline: 400 VND/liter
+ E5 RON 92 - II gasoline: 400 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 300 VND/liter.
+ Diesel oil 0.05S-II: 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.
