On the morning of June 25, gasoline and oil prices fell sharply to their lowest level in two weeks. Accordingly, Brent crude oil fell by 4.34 USD/barrel, equivalent to 6.1%, to 67.14 USD/barrel; WTI crude oil fell by 4.14 USD/barrel, equivalent to 6.0%, to 64.37 USD/barrel.
This is the lowest closing price of Brent oil since June 10 and of WTI oil since June 5 - the time before Israel suddenly attacked important military and nuclear facilities of Iran.
According to Reuters, the ceasefire agreement between Israel and Iran reduces the risk of disruption to oil supplies in the Middle East, pushing oil prices down. However, this agreement is facing the risk of "bankruptcy" when US President Donald Trump accused both Israel and Iran of violating their commitments just hours after the ceasefire was announced.
Gasoline prices are about to increase for the fifth consecutive time. PHOTO: D.NT
In addition, there is another reason for the drop in oil prices, according to AFP, because US President Donald Trump announced that he would allow China to continue buying oil from Iran. This is seen as a relief from the sanctions that the US has imposed on the third largest crude oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and China is currently the world's largest oil importer. This order is like a "lifesaver" for Iran when the country is facing international sanctions. Writing on the Truth Social platform, the US President said that China can now continue to buy oil from Iran. Hopefully they will also buy more oil from the US.
Domestically, the unexpected developments in the world oil market have caused changes in predictions about gasoline prices at the price adjustment session on Thursday afternoon (June 26), but most of them are increasing, except for fuel oil. On the morning of June 25, some oil traders said that after the price adjustment session last Thursday, world crude oil prices continued to increase sharply. However, the plunge after the news of a ceasefire in the Middle East helped cool down oil prices. It is forecasted that the increase in domestic gasoline prices from tomorrow afternoon will range from 350 - 550 VND/liter, excluding the Gasoline Price Stabilization Fund.
So far, gasoline discounts at some depots are still very low at 100 - 200 VND/liter, with some places even offering discounts of 0 VND. If forecasts are correct, domestic gasoline prices will increase for 5 consecutive sessions. Since the beginning of the year, RON 95 gasoline has increased 14 times, decreased 11 times; diesel has increased 13 times, decreased 11 times and remained unchanged once./.
According to Thanh Nien Newspaper
Source: https://baolongan.vn/gia-xang-dau-hom-nay-25-6-bien-dong-manh-xang-trong-nuoc-dieu-chinh-the-nao-a197634.html
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