World raw material prices fluctuate in opposite directions.

Green dominated the energy and metal price charts. Meanwhile, agricultural products and industrial raw materials were under pressure. However, in general, buying power prevailed, supporting the MXV-Index to close the day with a 0.55% recovery to 2,291 points.

Oil prices rise to 1-week high

Closing on June 10, oil prices regained momentum, recovering strongly to a one-week high. Specifically, WTI oil prices increased by 2.93% to 77.74 USD/barrel. Brent oil increased by 2.52% to 81.63 USD/barrel.

MXV said oil prices received strong support from expectations of increased fuel demand during the peak travel season, amid concerns that supply remains limited due to the oil pump tightening policy of the Organization of the Petroleum Exporting Countries and its allies (OPEC+).

Energy Price List

Analysts forecast Brent crude prices will rise to $86 a barrel this summer amid strong consumer demand that will leave the market in a deficit of 1.3 million barrels a day in the third quarter, according to a report by Goldman Sachs.

The Wall Street bank revised its oil demand growth estimate for this year up by 200,000 barrels per day to 1.25 million barrels per day, highlighting positive jet fuel demand.

Goldman Sachs also said Brent would find support in the $75/bbl region, as physical demand for crude oil, which tends to increase amid lower prices, including in China and the US to replenish the Strategic Petroleum Reserve (SPR). Over the weekend, the US Department of Energy announced two additional SPR purchase offers, including 1.5 million barrels for September delivery and an additional 4.5 million barrels for October, November and December. This pushed oil prices up sharply yesterday.

Energy consultancy FGE also expects oil prices to recover, with prices averaging around $80 a barrel in the third quarter.

OPEC+’s production cuts during the peak consumption season in the third quarter have significantly supported oil prices. Meanwhile, the output of the world’s largest producer, the US, is expected to decline next year, further emphasizing the risk of supply shortage.

US oil production will fall by about 1 million barrels a day in the second half of 2025 unless the rig count increases significantly, according to Bloomberg. The shale boom has pushed the US to produce more crude than any other country ever, but growth is expected to slow. Surveys show US oil production will remain at 12 million to 13 million barrels a day for the next 6 to 9 months, and output could fall further if the rig count doesn’t rebound.

Cotton prices weaken

Cotton prices fell nearly 3% to a 20-month low. Weak demand for U.S. cotton, combined with a stronger dollar, put double pressure on prices. In its weekly export report ending May 30, the U.S. Department of Agriculture (USDA) said that cotton exports for the week were down 9% from the previous week and 27% from the four-week average, to 157,000 bales. The lower exports were largely due to lower sales earlier in the week as demand weakened.

Industrial raw material price list

In addition, the Dollar Index has increased sharply in the last two sessions, making the cost of investing and holding cotton more expensive. This has also contributed to significantly limiting the buying power for cotton in yesterday's session.

Prices of some other goods

Metal price list

Agricultural product price list

Source: https://congthuong.vn/thi-truong-hang-hoa-hom-nay-ngay-1162024-gia-hang-hoa-nguyen-lieu-the-gioi-bien-dong-trai-chieu-325495.html