Gasoline price today June 24: Plunged nearly 10 USD/barrel

On the morning of June 24, oil prices fell freely, losing about USD/barrel. At 7:30 a.m. (Vietnam time), WTI oil price was at 66.4 USD/barrel; Brent oil price was at 68.5 USD/barrel, down 10.02 USD/barrel. This is the sharpest drop in nearly 3 years.

According to Reuters, oil prices suddenly dropped sharply after Iran did not target the strategic shipping route through the Strait of Hormuz, but instead launched a missile attack on a US base in Qatar, Iraq in response to the US airstrike on the country's nuclear facilities.

However, analysts consider Iran's attack on the US military base to be a milder scenario than closing the Strait of Hormuz - a vital shipping route through which about a fifth of the world's oil is transported every day. In other developments, analysts say the closure of the strait is very unlikely and believe that, unless Iran continues to retaliate or Israel or the US takes escalating actions, geopolitical risks may gradually no longer have a major impact on oil prices in the next few days.

The strong fluctuations in world oil prices have affected domestic gasoline prices. PHOTO: NHAT THINH

Earlier, according to Retuers, at least two supertankers turned around near the Strait of Hormuz after the US airstrike on Iran. The tension that has lasted for more than a week has forced many ships to speed up, pause or change their routes. Investors are still weighing the impact of geopolitical risks on oil prices. In a recently published report, HSBC predicted that Brent oil prices would spike to more than $80/barrel if the Strait of Hormuz was closed, but would fall back if the threat did not materialize.

Domestically, gasoline prices are expected to increase by around VND1,000 per liter at the Thursday afternoon adjustment. However, due to unexpected developments in the world market, on the morning of June 24, some key traders said that the increase may be lower due to the market's sharp downward fluctuations.

Since the beginning of the year, domestic gasoline prices have undergone 24 adjustment sessions, including 9 sessions of decrease, 10 sessions of increase and 5 sessions of opposite direction./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-2462025-lao-doc-gan-10-usd-thung-185250624083832585.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-24-6-lao-doc-gan-10-usd-thung-a197568.html