Commodity market: Crude oil prices increase slightly

Closing yesterday's trading session, the MXV-Index decreased nearly 0.5%, falling to 2,213 points.

Energy commodity market fluctuates. Source: MXV

According to MXV, the energy market recorded a tug-of-war situation as investors continued to assess the outlook for consumption demand in the coming time, in the context of the US announcing tariffs with trade partners.

At the end of the session, the prices of both crude oil products increased slightly by less than 0.1%. Brent oil price closed at 70.19 USD/barrel, up 0.06%, while WTI oil increased slightly by 0.07% to 68.38 USD/barrel.

In another development, natural gas prices on the NYMEX floor fell sharply by 3.77% to $3.21/MMBtu - the lowest level recorded since the beginning of June.

The metal commodity market is clearly differentiated. Source: MXV

Meanwhile, the metal market witnessed clear divergence as investors continued to cautiously monitor trade negotiations between the US and its partner countries.

At the end of the trading session on July 9, silver price continued to lose 0.32%, falling to 36.63 USD/ounce, marking the fourth consecutive session of weakness.

The Dollar Index (DXY) rose to 97.5 yesterday, while the yield on the 10-year US government bond hovered near a three-week high, putting pressure on precious metals such as silver - a non-yielding asset.

Faced with the continuous downward trend of international silver prices, the domestic silver market - which often reflects world developments with a certain delay - will likely continue to be under adjustment pressure in the coming time.

According to records on July 9, domestic silver prices have a clear differentiation between two major trading centers.

In Hanoi , silver prices decreased in both buying and selling directions compared to the previous session. Specifically, the buying price was listed at VND1,149,000/tael, while the selling price was at VND1,182,000/tael.

In Ho Chi Minh City, the market continued to maintain stability, with buying and selling prices fluctuating around VND1,151,000 - VND1,188,000/tael.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-gia-dau-tho-tang-nhe-708606.html