Oil prices fell sharply last week.

At the close of the trading week, WTI crude oil prices fell nearly 4.4%, to $96.6 per barrel. Meanwhile, Brent crude lost more than 5.2%, ending the week at $103.54 per barrel.

Positive signals from the US-Iran negotiations led to a cooling of energy markets across the board last week.

Amidst widespread selling pressure in the energy sector, several agricultural commodities maintained their recovery momentum, creating a clear divergence in the commodity market. At the end of the week, the MXV-Index fell 1.5%, to 2,904 points.

MXV-Index. Source: Vietnam Commodity Exchange.

According to the Vietnam Commodity Exchange (MXV), the global energy market experienced a volatile week, with all five energy commodities trading in the red. The MXV-Index for this group led the overall market decline, plummeting nearly 5% to 4,409 points.

Oil prices fell by approximately 2% on Tuesday (May 19) and maintained a downward trend for most of the remainder of the week. However, the decline was not continuous as the market saw periods of buying activity. At the close of the trading week, WTI crude oil fell nearly 4.4%, to $96.6 per barrel. Meanwhile, Brent crude lost more than 5.2%, ending the week at $103.54 per barrel.

Although oil prices have fallen, they remain high after a period of rapid increases and continue to put pressure on the domestic market. According to MXV, the energy market will likely experience considerable volatility in the coming period.

Source: https://hanoimoi.vn/gia-dau-giam-manh-trong-tuan-qua-930646.html