On August 30, 2026, global oil prices have experienced a notable decrease. West Texas Intermediate (WTI) crude oil dropped from $86.64 per barrel last week to $83.44 this week, marking a decline of $3.20 per barrel or 3.69%. Similarly, Brent crude oil fell from $93.93 to $88.28, a decrease of $5.65 or 6.02%.

The sharp decline in oil prices can be attributed to profit-taking after a period of significant increases. Investors began selling off their shares on August 24 after both major oil types recorded their second consecutive week of gains, exceeding 5%.

Moreover, the market appears less concerned about the U.S. sanctions against Iran, as investors believe that these economic pressures are unlikely to disrupt oil supply compared to the potential for escalating military conflict. Additionally, ongoing negotiations between Iran and Oman regarding the Strait of Hormuz have eased fears of supply interruptions, as signals indicate the possibility of restoring some shipping activities through this crucial maritime route.

In the U.S., the increase in crude oil inventories was less than anticipated, further influencing market dynamics.

As for domestic oil prices in Vietnam, on August 30, retail prices were adjusted by Petrolimex. The latest prices for various fuel types in regions 1 and 2 are as follows:

• Diesel 0.05S - II: 1,800 VND/liter
• Diesel 0.001S - V: 1,800 VND/liter
• E10 RON 95-III: 1,200 VND/liter
• E15 RON 92-II: 1,200 VND/liter

Looking ahead, a representative from a fuel trading company forecasts that retail prices for gasoline and oil may decrease in the upcoming adjustment period. Specifically, E10 gasoline could drop by 0-50 VND/liter, E5 RON 92-II by 0-50 VND/liter, and Diesel by approximately 1,500 VND/liter.

It is important to note that today's oil prices are for reference only and may change based on market developments.