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Coffee prices rose shockingly in Vietnam, commodity index MXV-Index increased for the sixth session

Vietnam
Published Jun 9, 2023

Tridge summary

Despite the weakness of the energy group, the strong increase of coffee, sugar, agricultural products and metals, pushed the positive uptrend of the whole world commodity market today. via. Oil prices recorded a volatile session on June 8, with WTI oil at one point falling close to the $69 mark before regaining momentum. At the end of the session, the decline in oil prices was partially narrowed, WTI oil closed at $71.29/barrel, down 1.71% compared to the reference level. Brent oil price fell 1.29% to 75.96 USD/barrel. Oil prices fell sharply by about 3 USD/barrel on the news surrounding the Iran nuclear deal, due to the expectation that a large amount of oil supply from Iran will soon return to the market. However, the price quickly regained the recovery momentum at the end of the session when the US and Iran officially spoke out. U.S. and European officials have sought to rein in Tehran's nuclear program since indirect talks between the United States and Iran over reinstating the 2015 nuclear deal.

Original content

Despite the weakness of the energy group, the strong increase of coffee, sugar, agricultural products and metals, pushed the positive uptrend of the whole world commodity market today. via. Oil prices recorded a volatile session on June 8, with WTI oil at one point falling close to the $69 mark before regaining momentum. At the end of the session, the decline in oil prices was partially narrowed, WTI oil closed at $71.29/barrel, down 1.71% compared to the reference level. Brent oil price fell 1.29% to 75.96 USD/barrel. Oil prices fell sharply by about 3 USD/barrel on the news surrounding the Iran nuclear deal, due to the expectation that a large amount of oil supply from Iran will soon return to the market. However, the price quickly regained the recovery momentum at the end of the session when the US and Iran officially spoke out. US and European officials have sought to rein in Tehran's nuclear program since indirect US-Iran talks on restoring the 2015 nuclear deal between Iran, ...
Source: Baochinhphu
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