Commodity market: Commodity prices fluctuate before the US imposes reciprocal tariffs

According to the Vietnam Commodity Exchange (MXV), at the close of yesterday's trading day, the MXV-Index increased by 0.38% to 2,285 points.

In the commodity market, oil prices cooled down. Source: MXV

Selling pressure dominated the energy market. Oil prices fell as supply concerns were eased by OPEC+ plans to increase production, while the market faced renewed pressure from a weakening global oil demand outlook.

After hitting a one-month high, Brent crude for June delivery fell 0.37% to $74.49 a barrel, while WTI crude fell 0.39% to close at $71.20 a barrel.

However, the market still faces greater risks from demand. New tariffs expected to be announced by the US government on April 2 are escalating global trade tensions, which are causing oil demand to plummet, surpassing previous concerns about supply shortages.

Commodity market prices of many agricultural products increase. Source: MXV

Meanwhile, green dominated the agricultural market. Closing, soybean prices increased sharply by nearly 2% to 380 USD/ton, reflecting a strong recovery thanks to a series of positive information from the market.

One of the main drivers of prices is the forecast of a shrinking soybean acreage in the US. The prospect of lower supplies in the future has strengthened market sentiment, creating a driving force for prices to rise.

However, the market still faces significant risks. Trade tensions between the US and major partners such as China could negatively impact US soybean exports.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-gia-hang-hoa-bien-dong-truoc-ngay-my-ra-thue-doi-ung-697591.html