World oil prices surged by more than 2%, with Brent crude reaching $63.34 per barrel.
Concerns about supply disruptions from Iran and Russia fueled a strong recovery in global crude oil prices, while domestic retail gasoline and diesel prices saw a simultaneous decline.
World crude oil prices recovered strongly by about 2% in the trading session on January 9th due to concerns about increased geopolitical risks in Iran and Russia, despite the recent downward adjustment of domestic retail gasoline prices following the latest price adjustment by the Ministry of Industry and Trade - Ministry of Finance.
World oil prices are recovering strongly.
On the international market, Brent crude oil prices rose $1.35, or 2.18%, closing at $63.34 per barrel. At the same time, WTI crude oil prices increased by $1.36, or 2.35%, reaching $59.12 per barrel. Overall for the week, Brent and WTI crude oil prices rose by approximately 4% and 3%, respectively.
Supply risks from Iran and Russia
According to analysts, the instability in Iran is a key factor supporting the upward trend. Phil Flynn, an expert at Price Futures Group, said that widespread protests are keeping the market constantly tense. Data from OPEC shows that the bloc's production fell by 100,000 barrels per day last month, to 28.40 million barrels per day, with Iran and Venezuela experiencing the largest declines.
Furthermore, tensions from the Russia-Ukraine conflict continue to escalate after the Russian Ministry of Defense confirmed the launch of Oreshnik hypersonic missiles at energy infrastructure targets. However, research firm Haitong Futures believes that global oil oversupply and rising inventories remain obstacles that could hinder the long-term recovery.
New policy on Venezuelan oil.
The market is closely watching discussions at the White House with major energy companies such as Chevron, Vitol, and Trafigura. The US administration is expected to indefinitely control oil sales and revenue from Venezuela following the arrest of President Nicolas Maduro. Currently, around 50 million barrels of PDVSA's oil are stuck due to sanctions, awaiting new export agreements.
Domestic fuel prices on January 10, 2026
In the domestic market, retail prices of petroleum products this morning continue to be applied according to the price adjustment period from the afternoon of January 8, 2026. Specifically, the listed prices are as follows:
| Item | Retail price (VND/liter or kg) | Adjustment amount (VND) |
|---|---|---|
| E5 RON92 gasoline | 18,233 | -205 |
| RON95-III gasoline | 18,560 | -357 |
| Diesel fuel 0.05S | 17,061 | -194 |
| Oil | 17,559 | -135 |
| Fuel oil 180CST 3.5S | 13,403 | +58 |
During this price adjustment period, the regulatory agency did not make any contributions to or use of the Price Stabilization Fund for any type of gasoline or diesel. According to statistics, this is the 51st price adjustment since the beginning of 2026.
