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Commodity market: Crude oil prices fall for 6th consecutive session

Green continues to spread across the world's raw material price list, but there are contrasting developments in the agricultural and energy markets.

Hà Nội MớiHà Nội Mới08/08/2025

According to the Vietnam Commodity Exchange (MXV), the dominant buying force created momentum for the MXV-Index to recover nearly 0.3% to 2,163 points.

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Agricultural commodity market recovers strongly. Source: MXV

At the end of the trading session on August 7, the agricultural products group witnessed a strong recovery when 6/7 items increased in price.

Corn rebounded after a long period of deep price declines, falling to the bottom of the past year. At the end of the session, corn prices increased by 1.25% to 151.37 USD/ton.

World corn prices jumped as the market received a series of positive figures from the US Department of Agriculture (USDA) export report and was further supported by a weaker US dollar, contributing to increasing the competitiveness of US agricultural products in the world market.

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Energy commodity market is "red". Source: MXV

Meanwhile, the energy group went against the trend of the whole market.

Closing, Brent oil price decreased 0.69% to 66.43 USD/barrel, while WTI oil lost 0.73% to 63.88 USD/barrel.

Selling pressure appeared after positive information from diplomatic relations between the US and Russia. In addition to geopolitical factors, two other factors that also strongly affected oil prices were the plan to increase production from OPEC+ in September and supply-demand reports in the US.

OPEC+'s continued production increase is putting downward pressure on prices, while reports from API and EIA show that commercial crude oil inventories in the US continue to decline, thereby reinforcing expectations of a recovery in energy demand in the world's largest economy .

Source: https://hanoimoi.vn/thi-truong-hang-hoa-gia-dau-tho-giam-phien-thu-6-lien-tiep-711851.html


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