World oil prices today
World gasoline and oil prices recorded a sharp weekly decrease. At the end of a trading week, WTI crude oil was at 105.42 USD/barrel last weekend, down to 96.60 USD/barrel this weekend. Overall last week, WTI oil decreased by 8.82 USD/barrel, equivalent to a decrease of 8.73% compared to the previous week.
Brent oil was at 109.26 USD/barrel last weekend, down to 103.54 USD/barrel this weekend. Overall last week, Brent oil decreased by 5.72 USD/barrel, equivalent to a decrease of 5.23% compared to the previous week.
According to analysts, world oil prices recorded a sharp week of decline as the market was continuously dominated by conflicting information related to the negotiation process between the US and Iran, along with prolonged concerns about the risk of supply disruption in the Middle East.
According to the International Energy Agency (IEA), the conflict in the Middle East has paralyzed transportation through the Strait of Hormuz, causing one of the world's largest oil supply disruptions.
In the past week, the market has fluctuated many times due to mixed signals from the US-Iran peace talks. Investors expect negotiations to enter their final stage, but remain cautious as supply from the Middle East is not yet truly stable.
Transport data shows that three super oil tankers passed through the Strait of Hormuz on May 20. However, the volume of ships passing through this maritime route is still much lower than the level of about 130 ships/day before the conflict broke out.
Analysts say disagreements between Tehran and Washington have somewhat narrowed. The US side also mentioned "some positive signals" in the talks. However, the two sides still have major differences regarding Iran's uranium reserves as well as control of the Hormuz Strait.
6 weeks after the fragile ceasefire in the US-Israel conflict with Iran was established, the high oil price level continues to increase concerns about inflation and global economic growth prospects.
Meanwhile, according to Reuters, 4 sources said that 7 key oil producing countries of OPEC+ are likely to agree to slightly increase production in July at the meeting on June 7, although delivery activities of some member countries are still interrupted.
Domestic gasoline prices today
On May 24, retail gasoline and oil prices according to the price list announced by Petrolimex in region 1 and region 2 are as follows:
The above-mentioned domestic retail gasoline and oil prices were adjusted by the inter-ministry of Industry and Trade - Finance from 3:00 PM on May 21.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 600 VND/liter;
+ Diesel oil 0.001S-V: 750 VND/liter at Duc Giang warehouse;
+ E10 gasoline: 1. 450 VND/liter.
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ RON 95 - III gasoline: No new discounts
+ Diesel oil 0.05S-II: No new discounts
- Hoang Trong General Trading Co., Ltd.:
+ Hai Linh Warehouse, Nghi Son: RON 95 - III gasoline: 1,500 VND/liter.
+ Bac Ninh Warehouse: RON 95 - III gasoline: 1,350 VND/liter.
+ Petec warehouse, Dinh Vu: Diesel oil 0.01S: 600 VND/liter; E10 gasoline: 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.
