World oil prices today
After a week of deep decline, world gasoline and oil prices suddenly reversed to increase sharply in the first morning session of the week. At 7:57 am (Vietnam time), WTI oil price was at 77.52 USD/barrel, up 1.67 USD/barrel, equivalent to an increase of 2.22%. WTI oil price closed the previous trading session at 75.85 USD/barrel and opened today's session at 77.49 USD/barrel.
Brent oil price was at 80.49 USD/barrel, up 0.49 USD/barrel, equivalent to an increase of 0.55%. Brent oil price ended the previous trading session at 80.05 USD/barrel and opened today's session at 81.11 USD/barrel.
According to analysts, the instability surrounding US-Iran relations keeps the oil market cautious. The recovery of oil prices after the recent sharp drop is seen as a reaction when investors reassess geopolitical risks in the Middle East.
The rise in oil prices was supported after US Vice President JD Vance warned Israel not to continue military operations against Iranian-backed Hezbollah forces in Lebanon. These statements raised concerns about the ability to maintain de-escalation agreements in the region, while raising market vigilance against the risk of conflict escalating again.
Experts believe that any new signs of instability in the Middle East could quickly affect oil prices. In the context that the market is still particularly sensitive to geopolitical developments, statements related to Israel and Iran's allied forces risk increasing uncertainty about the global energy supply outlook.
Previously, Israel and Hezbollah forces reached a ceasefire agreement in Lebanon. This agreement officially took effect from 4 pm on June 19 (local time), thereby increasing expectations that oil exports from the Gulf region will be gradually restored.
However, the risk of transport disruption is still present as Iran signals to strengthen control over maritime activities in the Strait of Hormuz. Concerns related to the conditions that Iran may apply to traffic through this strategic maritime route have contributed to supporting oil prices in recent sessions.
From an supply-demand perspective, the prospect of oil surplus in the coming years continues to be a factor putting pressure on prices. In the preliminary report on the oil market in 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 enter a significant oversupply phase, thereby limiting the upward momentum of oil prices in the medium and long term.
Domestic gasoline prices today
On June 22, 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: 100 VND/liter;
+ Diesel oil 0.001S-V: 100 VND/liter.
+ E10 RON 95-III gasoline: 200 VND/liter
+ E5 RON 92 - II gasoline: 200 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 600 VND/liter.
+ Diesel oil 0.05S-II: 300 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.
