MXV-Index sets all-time high, surpassing the 3,000-point mark.

The global commodities market continued its positive trend on May 12th, with strong buying pressure spreading across many product groups, especially energy and agricultural products. At closing, the MXV-Index rose 1.35% to a record high of 3,035 points, marking a new historical peak for the Vietnamese commodities market.

Báo Tin Tức•13/05/2026

Oil prices surpassed $100 per barrel due to concerns about escalating conflict.

According to the Vietnam Commodity Exchange (MXV), the energy market continued to heat up yesterday as investor confidence in the possibility of the US and Iran reaching a peace agreement soon continued to decline.

On May 12th, US President Donald Trump reaffirmed his tough stance on Iran, while also leaving open the possibility of resuming military intervention in the Middle East. This development came shortly after Iran rejected a new proposal from the US, threatening to collapse the current ceasefire and raising concerns about potential disruptions to global oil supplies.

The upward trend in oil prices was further reinforced after the US Energy Information Agency (EIA) released its Short-Term Energy Outlook report. According to the EIA, oil production in the Middle East in April decreased by approximately 10.5 million barrels per day due to disruptions in exports through the Strait of Hormuz.

Notably, the agency stated that its forecast scenarios now include the possibility of the Strait of Hormuz being completely closed until the end of May. This raises serious concerns about short-term supply shortages in the international energy market.

At the close of trading, WTI crude oil prices rose nearly 4.2%, surpassing $100 per barrel and settling at $102.2 per barrel. Meanwhile, Brent crude oil prices increased by more than 3.4%, reaching $107.8 per barrel.

The market is currently focused on the meeting between President Donald Trump and Chinese President Xi Jinping, scheduled for May 14-15 in Beijing. The situation in the Strait of Hormuz and global oil supply are expected to be among the key topics of discussion.

Fluctuations in the international market are putting increasing pressure on the domestic energy market. According to preliminary customs data, Vietnam's crude oil imports in April decreased by 7.7% in volume compared to the previous month, but increased by as much as 25.8% in import value, reflecting the direct impact of rising energy prices.

Amidst a sharp decline in energy supplies from the Middle East, particularly Kuwait, since the beginning of this year, Vietnam is stepping up its efforts to diversify its energy sources. The market has recently seen an increase in crude oil imports from West Africa, notably Nigeria, while the proportion of natural gas imported from Malaysia and Australia has also risen significantly.

Wheat prices have surged amid fears of global supply shortages.

Besides the energy sector, according to MXV, the agricultural sector was also a focal point of attention for domestic and international investors in yesterday's trading session, closing in positive territory across all seven commodities. In particular, the wheat market recorded a strong surge as concerns about global supply continued to mount.

At the close of trading, Chicago July wheat futures rose 7.1% to $249.5 per ton, their highest level in about a year and a half. Meanwhile, Kansas July wheat futures also rose nearly 6.6% to $268.7 per ton, their highest price in almost three years.

According to MXV, the main driver behind the rise in wheat prices comes from the prospect of tighter global wheat supply. The May WASDE report from the US Department of Agriculture (USDA) further reinforced this concern by sharply lowering its forecast for US wheat production and inventories for the next crop year.

Specifically, the USDA lowered its forecast for the US winter wheat crop to approximately 28.52 million tons, a decrease of 9.6 million tons compared to the previous crop year and the lowest level in more than half a century. At the same time, the actual harvested acreage is only about 68% of the planted area, the second lowest level in the past 10 years.

In addition, the USDA continues to revise down its ending inventory forecast for the 2025-2026 crop year to approximately 279.2 million tons and predicts that inventory for the 2026-2027 crop year may further decrease to around 275 million tons.

Supply pressures are increasing as adverse weather conditions continue to severely impact crop quality in the US.

The latest report shows that the percentage of winter wheat of good to excellent quality has plummeted to just 28%, significantly lower than market expectations.

Meanwhile, Pro Farmer's crop rating for winter durum wheat continues to decline sharply due to the impact of drought and frost in Kansas and Nebraska. The risk of farmers having to abandon approximately 3.24 million hectares of farmland due to damage from extreme weather is imminent.

Besides supply and demand factors, the sharp rise in energy prices and geopolitical tensions in the Middle East have also contributed to a more positive trading sentiment in the grain market in recent sessions.

In the domestic market, the demand for stockpiling raw materials continues to increase sharply. According to preliminary data from the Customs Department, as of the end of April, Vietnam had imported nearly 4 million tons of wheat with a total value of approximately US$1.02 billion, an increase of 65.7% in volume and nearly 60% in value compared to the same period last year.

In April alone, wheat imports reached approximately 1.15 million tons, valued at over $288.8 million. According to MXV, the increased imports by domestic businesses reflect a proactive trend of stockpiling raw materials to ensure supply during peak production periods and minimize the risk of shortages from international markets.