On the morning of June 23, at 7:00 a.m. (Vietnam time), gasoline prices increased sharply by nearly 4%. Accordingly, global benchmark Brent crude oil increased by more than 3 USD, soaring to 80 USD/barrel; US WTI crude oil also increased by the same amount, trading at 76.7 USD/barrel.
World oil prices rose across the board after the US launched an airstrike on Iran in the early morning of June 22. Analysts on Reuters said that the increase could be stronger if Iran responds strongly, causing serious disruption to oil supplies.
In another development, US President Donald Trump announced that he had “obliterated” Iran’s key nuclear facilities in airstrikes on June 22. With tensions escalating in the Middle East, concerns about possible disruptions to oil supplies are well-founded, as on June 22, the Iranian Parliament voted to close the Strait of Hormuz. The strait is one of the world’s most important oil shipping routes, with about 20% of global oil production passing through it every day. Iran is also the third-largest crude oil producer in the Organization of the Petroleum Exporting Countries (OPEC).
World oil prices continued to increase sharply at the beginning of the week. PHOTO: D.NT
According to Reuters, since the conflict between Israel and Iran broke out on June 13 with Israeli attacks on Iranian nuclear facilities and Iranian missiles targeting Israeli buildings, world oil prices have increased by more than 11%.
This week, world oil prices are forecast to continue to fluctuate strongly, with the risk of exploding beyond the $100/barrel mark if tensions between Israel and Iran escalate and the risk of closing the Strait of Hormuz becomes a reality. Analysts warn that the Middle East conflict will not only cause world oil prices to increase sharply but also lead to an unprecedented wave of risk hedging among US oil producers by massively trading futures contracts at high prices.
Given the developments in world prices, domestic gasoline and oil prices are forecast to increase sharply in this week's price adjustment period./.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-xang-dau-hom-nay-2362025-giu-da-tang-manh-185250623082228372.htm
Source: https://baolongan.vn/gia-xang-dau-hom-nay-23-6-2025-giu-da-tang-manh-a197509.html
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