MXV-Index returns to highest level since late May

(Chinhphu.vn) - The Vietnam Commodity Exchange (MXV) said that after two positive sessions, the MXV-Index is recovering close to the 2,200-point threshold. In yesterday's trading session, 3/4 commodity groups closed in the green, many commodities increased in price. Notably, in the energy market, two crude oil commodities extended their increase into the second session.

Geopolitical tensions push oil prices further up

According to MXV, at the end of yesterday's trading session, the energy group continued to see green across all five commodities. Of which, Brent oil price increased by 1.55% to 65.63 USD/barrel, while WTI oil price increased by 1.42% to 63.41 USD/barrel - both reached the highest level in the past three weeks. According to MXV, the world crude oil market continued to maintain its upward momentum as geopolitical tensions showed no signs of cooling down.

The latest moves are showing that tensions are escalating again in the Russia-Ukraine conflict, despite negotiation efforts from the parties involved.

In addition, the market is also concerned about the US-Iran relationship as well as negotiations towards a new agreement surrounding Tehran's controversial nuclear program, replacing the previous agreement in 2015. Currently, the two sides have not found common ground on the issue of uranium enrichment, making the prospect of lifting US oil sanctions on Iran very remote.

If the disagreements between the US and Iran are not resolved satisfactorily, the risk of a new hotspot in the Middle East is entirely possible, especially in the Strait of Hormuz south of Iran, an extremely important shipping route for many Gulf countries.

The US government is also imposing sanctions on Venezuelan oil supplies, while wildfires continue to rage in southwestern Canada, disrupting oil production there. These reports have significantly diminished the impact of OPEC+ increasing production by 411,000 barrels per day for the third consecutive month.

In addition to supply concerns, oil prices were also supported by expectations of cyclical demand growth in the United States. Many market forecasts said that commercial crude oil inventories in the country will fall by about 1 million barrels in the working week ending May 30, continuing the trend of the previous week on expectations of increased demand during the peak travel season of Americans.

Positive supply outlook puts pressure on coffee prices

In contrast to the trend in the energy market, the industrial raw material group witnessed a clear differentiation between key commodities.

Contrary to the general market trend, Arabica coffee prices fell to their lowest level in nearly two months, losing 1.05% to 7,514 USD/ton, while Robusta coffee prices continued to lose another 0.92% to 4,435 USD/ton, the lowest level in 7 months.

The global coffee market has witnessed a significant decline since May 2025, mainly due to increased supply from the world's two largest producing countries, Brazil and Indonesia.

In addition, the market is also under pressure from new Robusta supplies in Uganda - Africa's leading Robusta exporter with about 10% of total global Robusta exports. In April 2025, the country's total coffee exports reached 694,318 bags, up 77.44% over the same period last year, of which Robusta accounted for 594,188 bags, up sharply by 104.63% over the same month last year.

In addition, coffee inventories remain high, further adding to the pressure on prices. According to ICE data, Robusta inventories on June 3 were down only 29 lots from an 8.5-month high of 5,438 bags on May 30. Similarly, Arabica inventories were down slightly from a 4-month high of 892,468 bags on Tuesday.

Source: https://baochinhphu.vn/mxv-index-tro-lai-muc-cao-nhat-ke-tu-cuoi-thang-5-102250604084339766.htm