Commodity market: MXV-Index fluctuates around 2,195 points

Energy commodity market is "red". Source: MXV

According to the Vietnam Commodity Exchange (MXV), at the end of yesterday's trading session, red covered the energy market when all 5 commodities in the group simultaneously turned to decrease in price.

Closing, Brent oil price fell below the threshold of 65 USD/barrel when it stopped at 64.86 USD/barrel, down about 1.17%. Similarly, WTI oil price also decreased about 0.88%, down to 62.85 USD/barrel.

Notably, the oil price increase in the previous two trading sessions was halted when data from the US Energy Information Administration (EIA) was released.

Commercial crude oil inventories fell by 4.3 million barrels in the week ended May 30, according to the report, in line with the American Petroleum Institute (API) estimate of a decline of about 3.3 million barrels at the end of June 3.

However, according to data from the EIA, gasoline and oil inventories increased sharply by more than 5.2 million barrels last week, a sign that fuel demand in the US is at risk of slowing down.

The market for industrial raw material commodities is differentiated. Source: MXV

Meanwhile, buying power was overwhelming on most key items in the industrial raw materials group.

However, contrary to the general trend of the group, the prices of two sugar products weakened simultaneously. Of which, the price of raw sugar decreased by 0.89% to 369.27 USD/ton, while the price of white sugar also decreased by 1.18%, anchored at 468.1 USD/ton.

The main reason for the sharp decline in sugar prices is the forecast of a sharp increase in global supply. In India – the world’s second-largest sugar producer, the National Federation of Sugar Mills forecasts that production in the 2025-2026 crop year will increase by 19% compared to the same period last year, reaching 35 million tons, thanks to the expansion of sugarcane acreage.

In addition, in Brazil, sugar and energy factories supplied 3.72 million tons to the market, up 7.5% over the same period last year.

Meanwhile, the total import volume of cane sugar, beet sugar and pure sucrose into the US, a major consumer market, reached only over 648,700 tons, down 29.3% compared to the same period last year.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-mxv-index-dao-dong-quanh-moc-2-195-diem-704554.html