Brent and WTI oil both climb

Today's oil price, January 12, this week, Brent oil price "pocketed" 3.25 USD to 79.76 USD/barrel, WTI oil "climbed" 2.61 USD to 76.57 USD/barrel.

Oil prices today, January 12, this week, Brent oil price 'pocketed' 3.25 USD to 79.76 USD/barrel, WTI oil climbed 2.61 USD to 76.57 USD/barrel. (Source: Oilprice)

Both oil benchmarks hit three-month highs and posted weekly gains, extending gains into a third straight week.

Oil prices started the week with a small slide of as much as 40 cents, snapping a five-session winning streak. Oil prices fell, hurt by downbeat economic news from the U.S. and Germany despite a weak dollar and forecasts of increased heating demand due to winter storms.

Concerns that sanctions against Russia and Iran will limit supplies from these two countries as well as the possibility of increased demand from China have supported oil prices to increase by approximately 1% in the second trading session of the week.

The upward momentum of oil prices continued into the early trading session on Tuesday. 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 the increase.

The oil price cycle continued to repeat itself in the fourth trading session, with oil prices accelerating by more than 1% in this session, recovering almost all the losses from the previous trading session. Supporting the oil price rise was cold weather in the US, Europe and Japan, boosting demand for winter fuel. Data from LSEG showed that ultra-low sulfur diesel was trading at around $2.38 a gallon, the highest level since October 8, 2024.

Oil prices continued to rise more than 3% in the final trading session of the week. This unexpected acceleration in oil prices was supported by traders' preparations for supply disruptions from the US.

The Biden administration has imposed new sanctions on Russia's oil and gas revenues, the largest and toughest package of US sanctions yet, targeting 180 Russian tankers and marine insurance providers based in the country, Reuters reported. Sources in Russia's oil trade and India's refining industry said the sanctions would severely disrupt Russian oil exports to major buyers such as India and China.

The sanctions were imposed just days before President-elect Donald Trump’s inauguration, so Trump is likely to maintain the sanctions and use them as a negotiating tool for a peace treaty with Ukraine, UBS analyst Giovanni Staunovo said.

With 2 sessions of decline and 3 sessions of increase, oil prices have established a hat-trick of weekly increases and recorded the 2nd week of increase in 2025.

Domestic retail prices of gasoline on January 10 are as follows:

E5 RON 92 gasoline is not more than 20,431 VND/liter.

RON 95-III gasoline is not more than 21,019 VND/liter.

Diesel oil not more than 19,243 VND/liter.

Kerosene not more than 19,244 VND/liter.

Fuel oil not exceeding 16,182 VND/kg.

The above domestic retail prices of gasoline and oil were adjusted up by the Ministry of Finance - Industry and Trade in the price adjustment session on the afternoon of January 9. Diesel oil price increased the most, by 488 VND/liter, followed by kerosene, increasing by 410 VND/liter. E5 RON 92 gasoline price increased by 374 VND/liter, RON 95-III gasoline increased by 273 VND/liter. Mazut oil increased the least, by 83 VND/kg.

In this operating period, the joint ministries did not set aside or use the Petroleum Price Stabilization Fund for E5 RON 92 gasoline, RON 95 gasoline, diesel oil, kerosene, and fuel oil.

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