Brent and WTI crude oil both climbed higher.

Today, January 12th, this week, Brent crude oil gained $3.25 to reach $79.76 per barrel, while WTI crude oil climbed $2.61 to $76.57 per barrel.

Today, January 12th, this week, Brent crude oil gained $3.25 to reach $79.76 per barrel, while WTI crude oil climbed $2.61 to $76.57 per barrel. (Source: Oilprice)

Both benchmark oil prices hit their highest levels in three months and recorded weekly gains, extending their upward trend for the third consecutive week.

Oil prices began the week with a slight dip of up to 40 cents, ending a five-session winning streak. The plunge was primarily driven by pessimistic economic news from the U.S. and Germany, despite a weaker dollar and forecasts of increased heating demand due to winter storms.

Concerns that sanctions targeting Russia and Iran would restrict supply from those two countries, as well as the possibility of increased demand from China, supported a rebound in oil prices, which rose approximately 1% in the second trading session of the week.

The upward trend in oil prices continued into the beginning of the third trading session. However, the "rise" of the US dollar and the continued sharp increase in US gasoline and distillate inventories (more than 6 million barrels each) put pressure on prices, forcing oil prices to reverse their gains.

The up-and-down cycle of oil prices continued for the fourth consecutive trading session. During this session, oil prices accelerated by more than 1%, recovering almost all of the losses from the previous session. Supporting the upward trend were cold weather in the US, Europe, and Japan, boosting winter fuel demand. Data from the LSEG showed that ultra-low sulfur diesel was trading at around $2.38 per gallon, its highest level since October 8, 2024.

Oil prices continued their upward trend, surging more than 3% in the final trading session of the week. This unexpected surge in oil prices was supported by traders' preparations for potential supply disruptions from the US.

According to Reuters , the administration of President Joe Biden has imposed new sanctions targeting Russian oil and gas revenues. This is the largest and toughest package of sanctions yet imposed by the US. The sanctions target 180 Russian oil tankers and marine insurance providers based in the country. Sources in the Russian oil trade and the Indian refining industry say the sanctions will severely disrupt Russian oil exports to major buyers such as India and China.

UBS analyst Giovanni Staunovo noted that the sanctions were imposed just days before President-elect Donald Trump's inauguration. Therefore, Trump is likely to maintain the sanctions and use them as a negotiating tool for a peace agreement with Ukraine.

With two sessions of decline and three sessions of increase, oil prices completed a hat-trick of weekly gains and recorded their second consecutive weekly increase in 2025.

The retail prices of gasoline and diesel in Vietnam on January 10th are as follows:

E5 RON 92 gasoline should not exceed 20,431 VND/liter.

RON 95-III gasoline should not exceed 21,019 VND/liter.

Diesel fuel prices should not exceed 19,243 VND/liter.

Kerosene price should not exceed 19,244 VND/liter.

Fuel oil price should not exceed 16,182 VND/kg.

The aforementioned domestic retail prices of petroleum products were adjusted upwards by the Ministry of Finance and the Ministry of Industry and Trade at the price adjustment meeting on the afternoon of January 9th. Diesel prices increased the most, by 488 VND/liter, followed by kerosene at 410 VND/liter. E5 RON 92 gasoline increased by 374 VND/liter, and RON 95-III gasoline increased by 273 VND/liter. Mazut increased the least, by 83 VND/kg.

During this price adjustment period, the inter-ministerial committee did not allocate or utilize the Fuel Price Stabilization Fund for E5 RON 92 gasoline, RON 95 gasoline, diesel fuel, kerosene, and fuel oil.

Source: https://baoquocte.vn/gia-xang-dau-hom-nay-121-dau-brent-va-wti-cung-leo-doc-300622.html