World oil prices
At 6:00 a.m. on June 15, WTI oil price was at 73.18 USD/barrel, up 4.94 USD/barrel, while US Brent oil price was at 75.18 USD/barrel, up 4.87 USD/barrel.
Iran - a member of the Organization of the Petroleum Exporting Countries (OPEC), currently produces about 3.3 million barrels of oil and fuel per day, exporting more than 2 million barrels per day.
The spare capacity of OPEC and its partners to compensate for any disruption is only equivalent to Iran's output, analysts said, according to Reuters.
Oil prices have skyrocketed in recent days. (Illustration photo).
About a fifth of global oil consumption, equivalent to 18-19 million barrels per day, passes through the Strait of Hormuz. According to Reuters, experts also warned that Iran could pay a high price if it blocked the Strait of Hormuz.
“Iran’s economy depends heavily on the free movement of goods and ships through this sea route, with all of its oil exports coming by sea. Blocking the Strait of Hormuz would be against Iran’s own interests,” analysts from JP Morgan bank analyzed.
According to Bloomberg, if the Strait of Hormuz is closed, crude oil prices could rise above $100 a barrel due to a shortage of supply from countries in the Persian Gulf region. At the same time, LNG prices could increase by at least 35% from current levels, and freight rates for crude oil and oil products would be greatly affected depending on the level of escalation of the Israel-Iran conflict.
Meanwhile, the number of US oil rigs fell for the seventh consecutive week. Specifically, the number of oil rigs fell by 3 to 439 this week, the lowest level since October 2021, while the number of gas rigs decreased by 1 to 113.
Domestic gasoline prices
During the operating period on June 12, the price of E5 RON92 gasoline increased by 199 VND/liter, not higher than 19,462 VND/liter. The price of RON95 gasoline increased by 269 VND/liter, not higher than 19,967 VND/liter.
Prices of all types of oil also increased simultaneously: Diesel oil increased by 280 VND/liter, not higher than 17,700 VND/liter. Kerosene price increased by 227 VND/liter, not higher than 17,511 VND/liter. Fuel oil increased by 283 VND/kg, not higher than 16,461 VND/kg.
Since the beginning of 2025, domestic gasoline prices have undergone 23 adjustment sessions, including 9 decreases, 9 increases and 5 opposite sessions.
Source vtcnews
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