World oil prices today
World gasoline and oil prices fell sharply. At the end of yesterday's trading session (June 4), WTI and Brent oil prices decreased by 3.1% and 2.84% respectively.
By this morning's session, both oil commodities continued to decline. At 7:56 am (Vietnam time), WTI oil price was at 92.69 USD/barrel, down 0.35 USD/barrel, equivalent to a decrease of 0.38%. WTI oil closed the previous session at 93.04 USD/barrel and opened today's session at 92.86 USD/barrel.
Brent oil price was at 94.95 USD/barrel, down 0.19 USD/barrel, equivalent to a decrease of 0.20%. Brent oil closed the previous session at 95.14 USD/barrel and opened today's session at 95.12 USD/barrel.
According to analysts, oil prices fell sharply as investors expect tensions between the US, Israel and Iran to soon cool down, thereby paving the way for the restoration of transportation through the Strait of Hormuz. This optimistic sentiment appeared after Israel and Lebanon reached a ceasefire agreement.
The ceasefire agreement between Israel and Lebanon increased expectations of reaching an agreement between Washington and Tehran. Previously, Iran had declared that any agreement would partly depend on ending the fighting between Israel and Hezbollah. This development has weakened the factors supporting the upward momentum of oil prices.
Experts believe that the market is once again betting on a scenario of early conflict resolution, while concerns about supply disruptions temporarily fall behind.
However, the flow of ships through the Strait of Hormuz is still almost stagnant. However, some ships have begun to move back to the area near the Persian Gulf, which is seen as a signal that this strategic maritime route may soon reopen.
In the long term, the Organization of the Petroleum Exporting Countries OPEC still maintains its forecast for global oil demand growth. The organization continues to expect oil demand to increase sharply despite the conflict in the Middle East and the blockade of the Strait of Hormuz in recent times.
Domestic gasoline prices today
On June 5, 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 pm on June 4.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 50 VND/liter;
+ Diesel oil 0.001S-V: 50 VND/liter.
+ E10 RON 95-III gasoline: 50 VND/liter
+ E5 RON 92 - II gasoline: 50 VND/liter
- Hoang Trong General Trading Co., Ltd.:
+ Hai Linh Warehouse, Hai Phong: Diesel Oil 0.05S: 100 VND/liter; E10 RON 95-III gasoline: 100 VND/liter.
+ Bac Ninh Warehouse: Diesel Oil 0.05S: 50 VND/liter; E10 RON 95-III gasoline: 50 VND/liter.
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 RON 95 - III gasoline: 100 VND/liter.
+ Diesel oil 0.05S-II: 200 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.
