Coffee prices increase sharply, WTI oil falls below $60/barrel

The world commodity market recorded mixed developments, as coffee prices continued to increase sharply while energy groups fell across the board.

Tight supply, global coffee prices continue to "heat up". Source: MXV

According to the Vietnam Commodity Exchange (MXV), overwhelming buying power in many key commodities helped the MXV-Index edge up 0.2% to 2,340 points.

Arabica coffee prices increased by more than 2% to 9,118 USD/ton – approaching the peak in mid-October; while Robusta inched up 0.1% to 4,686 USD/ton.

MXV said concerns about supply shortages in Brazil continue to be the main factor supporting prices. Brazil's National Supply Agency (Conab) forecasts coffee production in the 2025-2026 crop year to reach only 55.2 million bags, down nearly 2% from the previous year. Notably, Arabica production is expected to fall more than 11% due to adverse weather and the biennial growth cycle of coffee trees.

In addition, Arabica inventories on the ICE exchange continued to plummet, now at only about 22,000 bags – a record low in many years.

In Vietnam, domestic coffee prices recorded on November 5 remained high, fluctuating between VND119,000 and VND120,500 per kilogram. Supply is gradually stabilizing as the harvest season enters its peak, but heavy rains and the risk of typhoon Kalmaegi could disrupt progress in the short term.

The prospect of oversupply continues to weigh on oil prices. Source: MXV

On the other hand, world oil prices continued to plummet. At the end of the session on November 5, WTI oil fell nearly 1.6% to 59.6 USD/barrel, falling below the 60 USD threshold; Brent oil fell nearly 1.3% to 63.5 USD/barrel.

According to a report by the US Energy Information Administration (EIA), commercial crude oil reserves in the US increased by more than 5 million barrels in the last week of October – the highest level since July. The American Petroleum Institute (API) also recorded an increase of 6.5 million barrels in inventories, far exceeding forecasts.

Experts say a surge in US oil imports and slowing refining activity have reinforced the outlook for a global glut, while Canada’s plans to ease emissions regulations in oil and gas exploration could boost supply from North America.

According to MXV, world oil prices fell by about 1.5-2% last week, while finished oil products tended to differentiate. This development is forecast to directly affect the domestic gasoline price management session this afternoon by the Ministry of Industry and Trade and the Ministry of Finance.

Source: https://hanoimoi.vn/gia-ca-phe-tang-manh-dau-wti-roi-khoi-moc-60-usd-thung-722280.html