Commodity market: Oil price exceeds 72 USD/barrel

Global commodity markets continued to fluctuate, with oil prices jumping nearly 4%, surpassing the threshold of 72 USD/barrel.

The Vietnam Commodity Exchange (MXV) said that increased buying pressure at the end of yesterday's session helped the MXV-Index increase by nearly 0.5%, closing at 2,236 points.

Energy commodity market increased strongly. Source: MXV

Energy markets saw strong reactions to the possibility of supply disruptions from Russia after the US announced it was considering imposing secondary tariffs of up to 100% on customers buying crude oil from Russia.

This development pushed the price of both crude oil products to the highest level since the end of June. At the end of the session, Brent oil price increased by 3.53%, reaching 72.51 USD/barrel, while WTI oil recorded an increase of 3.75%, stopping at 69.21 USD/barrel.

Agricultural commodity market is "bright red". Source: MXV

On the contrary, the agricultural market witnessed overwhelming selling pressure with 6/7 products simultaneously weakening.

Soybean prices fell more than 0.7% to $360 per ton, extending the decline to the seventh consecutive session. This is also the lowest price in more than seven months.

Positive crop outlook put pressure on soybean prices yesterday.

In addition to seasonal factors, weak import demand is also putting pressure on the market. Data from the European Commission shows that EU soybean imports since the start of the 2025-2026 crop year have fallen by 37% compared to the same period last year.

Meanwhile, China – the world's largest soybean importer – has yet to record any new orders from the US for the fourth quarter, which is typically the peak of the export season.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-gia-dau-vuot-nguong-72-usd-thung-710847.html