The MXV-Index reached 2,300 points.

(Chinhphu.vn) - According to the Vietnam Commodity Exchange (MXV), agricultural products were the only group showing red in the trading session on March 24. Meanwhile, in the energy market, the prices of Brent and WTI crude oil rose for the fourth consecutive session. At closing, buying pressure prevailed, pushing the MXV-Index up slightly by 0.2% to 2,296 points.

At the close of yesterday's trading session, the agricultural commodities market was in the red, with most items in the group experiencing price declines. Soybean prices, in particular, fell 0.25% to $370 per ton yesterday, marking the fifth consecutive day of decline. Low trading volume reflected investor caution ahead of a series of important data releases expected this week. The market fluctuated due to conflicting fundamental factors.

On the domestic market, as of March 24th, the selling price of finished soybeans showed a slight upward trend. At Cai Lan port, the price of soybean meal for delivery in May and June 2025 was offered at 10,850 VND/kg. At Vung Tau port, the selling price was recorded to be about 100 VND lower than at Cai Lan port.

In the energy market, with the exception of natural gas, all four other commodities saw price increases. Crude oil prices surged in early week trading, with Brent crude rising 1.16% to $73 per barrel and WTI crude reaching $69.11 per barrel, up 1.22%. These are the highest prices for both commodities since early March. The price increase stemmed from the latest actions by the US targeting Venezuelan crude oil.

On March 24, US President Donald Trump announced a 25% tariff on countries importing oil from Venezuela, starting April 2. This will be an additional tariff, in addition to other tariffs, according to a plan that the White House is expected to release later that day.

Furthermore, oil prices were also supported by the OPEC+ production cut plan, announced on March 20th. According to Goldman Sachs' forecast, OPEC+ production growth will decrease by approximately 300,000 barrels per day over the next 12 months, with each reduction of $10/barrel assuming Brent crude remains above $70/barrel. This production cut will continue to increase as market prices decline, and a similar impact could also be applied to US shale oil production.

One rare factor restraining the rise in oil prices is the positive progress in peace negotiations between Russia and Ukraine. Following initial agreements on security guarantees for energy infrastructure, yesterday in Riyadh, Saudi Arabia, the US and Russia concluded talks on a ceasefire in the Black Sea region with positive responses from both sides.

On the same day, President Donald Trump also announced that the US and Ukraine were very close to reaching an agreement on revenue-sharing for minerals. However, both Russia and Ukraine are still reporting sporadic attacks, significantly hindering the path toward an end to the conflict in Ukraine.

Source: https://baochinhphu.vn/chi-so-mxv-index-cham-nguong-2300-diem-10225032509490368.htm