World oil prices today
World oil prices simultaneously decreased at the beginning of the first trading session of the week. At 8:37 am (Vietnam time), WTI oil price was at 68.52 USD/barrel, down 0.17 USD/barrel, equivalent to a decrease of 0.52%. WTI oil price closed the previous trading session at 68.69 USD/barrel and opened today's session at 68.66 USD/barrel.
Brent oil price was at 71.78 USD/barrel, down 0.34 USD/barrel, equivalent to a decrease of 0.47%. Brent oil price ended the previous trading session at 72.12 USD/barrel and opened today's session at 71.90 USD/barrel.
According to analysts, the expectation that the Hormuz Strait will soon be fully restored to operation is increasing thanks to progress in peace talks between the US and Iran. Currently, part of transportation through this important maritime route has been resumed according to the initial agreement between the two sides. However, the situation is still potentially risky after mutual airstrikes in recent times.
This week, world oil prices are forecast to continue to be under downward pressure as investors expect negotiations between the US and Iran to achieve positive results, thereby contributing to reducing the risk of supply disruption.
In addition, experts believe that the OPEC+ alliance (Organization of the Petroleum Exporting Countries and its allies) is likely to continue to raise production targets from August after the meeting on July 5. If approved, this decision will add more supply to the market in the context of cooling oil prices and transportation through the Strait of Hormuz gradually returning to normal.
Improved oil export prospects are also driving Gulf countries to increase production. As supply becomes more abundant, the market has shifted to a state reflecting expectations that supply in the near future will be more stable, thereby reducing concerns about the risk of shortage.
In the latest report, UBS bank has lowered its Brent oil price forecast as oil flow through the Strait of Hormuz is increasing again. Specifically, UBS lowered its Brent oil price forecast for the third quarter to 80 USD/barrel, 25 USD lower than the previous forecast; the forecast for the fourth quarter was also adjusted to 80 USD/barrel, down 10 USD. At the same time, this bank lowered its Brent oil price forecast for 2027 to 75 USD/barrel, 10 USD lower than the previous forecast.
Domestic gasoline prices today
On July 6, 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 4:00 PM on July 2nd.
Gasoline and oil discount today
- Tu Luc Petroleum Joint Stock Company 1:
+ Diesel oil 0.05S - II: 0 VND/liter;
+ Diesel oil 0.001S-V: 0 VND/liter.
+ E10 RON 95-III gasoline: 50 VND/liter
+ E5 RON 92 - II gasoline: 0 VND/liter
- MIPEC Petroleum Trading and Trading Co., Ltd. - MIPEC Petro (applied to the Northern region):
+ E10 gasoline: 400 VND/liter.
+ Diesel oil 0.05S-II: 100 VND/liter.
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 have opposite adjustments.
In which:
- E10 gasoline reduced by about 400 VND/liter;
- E5 RON 92 - II gasoline reduced by about 500 VND/liter;
- Diesel oil increased by about 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.
