The MXV-Index remained above the 2,800-point mark for the sixth consecutive session.

Commodity markets at the start of the week continued to be dominated by geopolitical tensions in the Middle East.

Concerns about supply disruptions pushed energy prices higher, also spilling over into the agricultural sector through demand for biofuels, helping to sustain broad-based buying. At the close, the MXV-Index rose 0.37% to 2,883 points, remaining above the 2,800-point mark for the sixth consecutive session.

Concerns about supply disruptions pushed oil prices to their highest levels in 2-3 weeks.

According to the Vietnam Commodity Exchange (MXV), the energy sector continued to be the highlight of the market on April 27th, with all five commodities experiencing price increases. Crude oil prices, in particular, saw a significant rise, primarily due to concerns about increased supply disruption risks.

This sentiment stems from the lack of progress in negotiations between the US and Iran. The second round of talks, scheduled to take place in Islamabad, did not materialize when US President Donald Trump canceled the visit of special envoys, citing Tehran's failure to meet its demands. Meanwhile, Iranian Foreign Minister Abbas Araqchi also left Islamabad without significant results, indicating that tensions between the two sides show no signs of easing.

This development quickly reflected in actual oil shipping activity. Data from Kpler and SynMax showed that only about 7 ships passed through the Strait of Hormuz on April 27, a sharp decrease from the average of around 140 per day before the conflict escalated. Given that approximately 20% of global oil supply passes through this route, the drop in shipping volume has significantly increased concerns about the risk of disruptions to the flow of crude oil on international markets.

In response to these risks, oil prices have risen to their highest levels in about 2-3 weeks. At the close of trading, Brent crude rose 2.75% to $108.23 per barrel, while WTI crude increased nearly 2.1%, reaching approximately $96.4 per barrel.

However, the upward momentum was somewhat curbed when Iran put forward a new proposal to reopen the Strait of Hormuz and end the conflict. This proposal is currently being considered by the US, helping to temporarily ease market concerns in the short term.

Domestically, the rising global oil prices continue to put pressure on business operations. A representative from the Vietnam National Petroleum Group ( Petrolimex ) stated that the petroleum segment recorded a loss of over 1,000 billion VND in the first quarter due to strong fluctuations in the international market. However, the company remains proactive in ensuring supply to maintain macroeconomic stability.

The energy rally is spreading to the soybean group.

The sharp rise in the energy market amid concerns about supply disruptions not only supported oil prices but also spilled over into agricultural commodities, particularly soybeans, through the biofuel channel.

At the close of trading on Monday, CBOT July soybean futures rose 1.2% to $438 per ton – the highest level in nearly a month and a half – while soybean meal prices increased nearly 3% to $361.3 per ton.

According to MXV, the main driving force comes from the increased attractiveness of biofuels as oil prices remain high. This has led to a significant improvement in demand for soybean oil – a key input for biodiesel production – thereby supporting the overall price level of the entire soybean supply chain.

Besides demand, the market is also affected by supply issues, as some shipments of soybean meal from Argentina were rejected for import into Europe due to concerns about the genetically modified HB4 variety. This development forced importers to shift to supplies from the US, contributing to price increases.

Furthermore, oil pressing operations in the US continue to maintain high efficiency with profit margins of approximately $129.34/ton, indicating that processing demand remains positive and contributes to maintaining strong buying pressure in the market.

Regarding capital flows, investment funds continued to increase their long positions with nearly 20,000 additional contracts across the soybean group. Soybean oil alone recorded approximately 17,000 new contracts. This reflects the trend of expanding long positions amidst persistently high energy prices. Overall, the performance of the soybean group shows a clear spillover effect from the energy market, reflecting a combination of both supply and demand factors in the short term.

In the domestic market, the supply of soybean meal remains abundant, meeting demand until the end of May. The current May offer price is around 12,000 VND/kg, while prices for longer maturities range from 11,200 to 11,700 VND/kg. Import prices from South America to domestic ports are generally in the range of 424-439 USD/ton.

Source: https://baotintuc.vn/thi-truong-tien-te/mxvindex-duy-tri-tren-moc-2800-diem-phien-thu-6-lien-tiep-20260428102715675.htm