Vietnam’s commodity markets have entered late June under heavy pressure as global energy prices slide, with the country’s MXV-Index falling nearly 2% in the June 15–19 trading week to 2,652 points, its lowest level since the end of February, according to the Vietnam Commodity Exchange (MXV) via vietnam.vn.
The drop capped a turbulent stretch in which four out of five commodity groups on the exchange closed in the red, led by a steep selloff in crude oil. Vietnam.vn reported that Brent crude futures lost about 7.8% on the week to trade below $80.6 per barrel, while WTI crude fell 8.2% to $76.54 per barrel. Another report from xe.today noted that in just the first two trading sessions of the week, oil prices fell by 9.5–10%.
MXV linked the initial plunge in crude to geopolitical developments rather than immediate changes in physical supply. In analysis cited by vietnam.vn, the exchange said oil prices “plummeted to their lowest level in over three months following positive signals from US-Iran negotiations” and a memorandum of cooperation that raised the prospect of easing sanctions on Iran’s energy sector. Xe.today quoted MXV stating that “the most significant development in the oil market was not related to actual supply-demand shifts but rather to changing investor expectations.”
Those changing expectations were closely tied to the Strait of Hormuz, the narrow sea route that handles approximately 20% of global oil trade, according to xe.today. The same outlet reported that investors “quickly adjust their global supply outlook” following signs that traffic through the strait could normalize under the US-Iran framework, prompting a rapid removal of the geopolitical risk premium that had supported prices earlier this year.
The selloff extended beyond crude. Vietnam.vn reported that US natural gas futures fell more than 3% to $3.12 per MMBtu, US gasoline stayed below $2.90 per gallon, heating oil retreated to near $3.10 per gallon, and thermal coal slid below $145 per tonne. Russian Urals crude dropped under $65 per barrel, and methanol on Chinese exchanges lost 4.55% to 2,746 CNY per tonne in the same period.
Across June as a whole, energy benchmarks gave up a significant portion of the gains accumulated earlier in the year. Citing price data up to June 19, vietnam.vn reported that the average June crude price decreased by double digits compared to May, with WTI down nearly 26.6% and Brent down more than 28.8%. The outlet added that oil prices have fallen about 38% since reaching a four-month high in April.
Monetary policy added a second layer of pressure. Following a US Federal Reserve policy meeting, vietnam.vn reported that silver prices plunged more than 6%, while the MXV-Index lost more than 1.5% in a single session. In earlier coverage of the first week of June, the same outlet cited MXV analysis that a high-interest-rate environment was pressuring capital flows into commodities as the MXV-Index slipped 2.3% to 2,754 points and the MXV-Index agricultural sectors fell to 1,406 points, their lowest level in three months.
Amid the broad retreat, coffee stood out for its ability to attract trading value even as other contracts weakened. In mid-June, vietnam.vn quoted MXV stating that “coffee continued to be the commodity attracting the most investor attention, accounting for an overwhelming proportion of trading value” on the exchange, even as oil prices weighed heavily on the headline index.
MXV traders cited by vietnam.vn said that, in their view, the current decline in energy prices “mainly reflects a shift in market expectations rather than an immediate improvement in actual supply,” underscoring how sentiment around geopolitics and interest rates has come to dominate price action across commodity markets where coffee now occupies a prominent share of investor focus.
