World oil prices today
World gasoline and oil prices continue to rise. At the end of yesterday's trading session (July 22), WTI and Brent oil prices increased by 2.95% and 3.36% respectively. Among them, Brent oil recorded the highest closing level in about 6 weeks.
By this morning's session, both oil commodities continued the upward trend. At 7:51 am (Vietnam time), WTI oil price was at 87.97 USD/barrel, up 1.14 USD/barrel, equivalent to an increase of 1.31%. WTI oil price closed the previous trading session at 86.83 USD/barrel, and opened today's session at 87.60 USD/barrel.
Brent oil was at 95.61 USD/barrel, up 1.70 USD/barrel, equivalent to an increase of 1.81%. WTI oil closed the previous trading session at 93.91 USD/barrel, and opened today's session at 93.92 USD/barrel.
World oil prices rose sharply as concerns about the increasing risk of supply disruptions due to the escalating conflict between the US and Iran. Along with that, threats aimed at the maritime transport activities in the Red Sea of the Houthi forces in Yemen, backed by Iran, continue to increase risks to the global energy supply chain.
The latest tension broke out after the Houthi forces announced an attack on two Saudi Arabian oil tankers in the Red Sea, raising concerns about the possibility of opening another front in the regional conflict.
Previously, the Houthi had issued radio warnings to ships operating in the area, stating: "In case we do not comply with the decision of the Yemeni armed forces, those ships will become our targets".
The UK Maritime Security Watch (UKMTO) also said that the captain of a tanker reported being hit by an unidentified object at a location about 70 nautical miles southwest of Al Shuqaiq (Saudi Arabia), causing the ship to catch fire.
The escalating developments in the Red Sea occurred after Houthi threatened to blockade Saudi Arabian ports, increasing pressure on key maritime shipping routes of the Middle East, in the context that the market is still closely monitoring the risk of disruption of traffic through the Strait of Hormuz.
According to data from the ship tracking company Kpler, the latest threats have caused some ships to turn around before entering the waters off Yemen. However, there were still nearly 30 ships passing through the Bab al-Mandab Strait on July 21.
AFP's maritime data analysis shows that at least 9 ships have changed direction after the Houthi declared a blockade, including 3 ships that just received oil at Yanbu port in the Red Sea of Saudi Arabia.
Meanwhile, US-Iran tensions continued to escalate as Washington launched more airstrikes targeting Iranian military targets, marking the 12th consecutive night of US attacks.
Regarding supply, the US Energy Information Administration (EIA) said that the country's crude oil inventories increased last week due to the stagnation of oil refineries, reduced exports while imports increased.
According to EIA, in the week ending July 17, US crude oil inventories increased by 2 million barrels, to 411.7 million barrels.
Domestic gasoline prices today
On July 23, 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.
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.
