World oil prices today
World gasoline and oil prices continued to increase sharply, ending yesterday's trading session (August 18), WTI and Brent oil prices increased by 0.52% and 0.17% respectively.
By this morning's session, both oil commodities continued the upward trend. At 8:25 am (Vietnam time), WTI oil price was at 84.94 USD/barrel, up 0.88 USD/barrel, equivalent to an increase of 1.05%. WTI oil price closed the previous trading session at 84.06 USD/barrel, and opened today's session at 84.47 USD/barrel.
Brent oil was at 91.97 USD/barrel, up 0.64 USD/barrel, equivalent to an increase of 0.70%. Brent oil closed the previous trading session at 91.33 USD/barrel, and opened today's session at 91.32 USD/barrel.
This is the highest closing level for Brent and WTI oil since July 24.
World oil prices rose sharply after Iran announced it would maintain a tough stance and continue to close the Strait of Hormuz, while the US ruled out the possibility of extending the ceasefire agreement, increasing concerns about the risk of energy supply disruption.
Speaking on state television on August 18, Iranian Parliament Speaker and chief negotiator Mohammad Baqer Qalibaf affirmed that the Strait of Hormuz will continue to be closed until the US fulfills its commitments in the interim agreement between the two countries.
According to Mr. Qalibaf, these commitments include lifting maritime blockades, oil sanctions and freezing Iran's assets that are being frozen abroad.
On the same day, according to Xinhua news agency, Qatari Foreign Ministry Spokesperson Majed bin Mohammed Al Ansari said that diplomatic efforts in the region are focusing on reopening the Strait of Hormuz and bringing the parties back to implement the contents of the memorandum of understanding between the US and Iran.
Qatar is currently awaiting the results of negotiations between Oman and Iran on maritime activities through the Strait of Hormuz. According to Mr. Al Ansari, an agreement between Oman and Iran could pave the way for further negotiations between the parties.
Domestic gasoline prices today
On August 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 are adjusted by Petrolimex according to the inter-ministry of Industry and Trade - Finance's management period from 3:00 PM on August 13.
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 700 VND/liter
- E5 RON 92 - II gasoline increased by about 780 VND/liter;
- Diesel oil increased by about 1,400 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.
