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Commodities

Oil Prices Plummet Amid Ongoing Middle East Tensions

Guavy AI Editorial Team
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World oil prices have taken a downturn in the past week, with WTI crude oil decreasing by 0.56% to $84.67 per barrel and Brent oil plummeting by 6.88% to $90.12 per barrel.

The decline is attributed to ongoing tensions in the Middle East, particularly in the Strait of Hormuz, which has led to a decrease in ship flow and increased risks of supply disruptions.

However, OPEC+ is considering suspending its production increase plan for three months starting from October 2026, which could provide some support to oil prices.

In Vietnam, domestic gasoline and oil prices have also decreased, with E10 gasoline down by 100 VND/liter and diesel oil down by 50 VND/liter in region 1 and region 2.

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