Vietnam: Oil prices climb and coffee prices move in opposite directions

Closing, the MXV-Index increased by 0.16% to 2,189 points, extending the streak of 5 consecutive sessions of increase. Notably, all 5 energy group commodities increased in price in the context of more complicated developments in geopolitical tensions. In addition, in the industrial raw materials market, the prices of two coffee commodities were in opposite directions. Crude oil prices increased sharply due to concerns about the risk of supply tension Crude oil prices returned to an upward trend in the trading session on November 21, after experiencing a prolonged adjustment period in the previous two sessions. With the war situation in Ukraine showing signs of dangerous escalation, buying power dominated this commodity for most of yesterday's session and helped the price return to the threshold of 70 USD/barrel. Specifically, WTI crude oil prices increased by nearly 2% to 70.1 USD/barrel. Brent crude oil prices also increased by nearly 2% to more than 74 USD/barrel. In ...