The strong gain of energy and metals group had positive support for investor sentiment. Transaction value of the whole Department had the third strongest increase in a row to nearly 6,300 billion dong. In which, the above two groups alone increased by nearly 30% to a total of 4,500 billion VND.

Crude oil price increased by more than 5%, surpassing 110 USD
Crude oil rebounded strongly yesterday, after a correction on Tuesday. Closing the session, WTI price increased 5.2% to 114.93 USD/barrel, Brent price increased 5.3% to 117.75 USD. USD/barrel.

The upward momentum maintained from the morning session, after the American Petroleum Institute’s report said that commercial crude oil inventories fell sharply by 4.3 million barrels in the week ended March 18. Travel demand has held up despite rising gasoline prices, reinforcing the view that the current price zone is not yet the point of “destroying” demand as some analysts fear.
The Deputy Prime Minister of Russia said that oil exports through the CPC pipeline may have to be halted for 2 months, due to damaged wharfs, contributing to boosting prices yesterday. This threatens to reduce the world oil supply by up to 1.2 million barrels per day, and aggravate the supply shortage problem.
With Russia’s existing oil tankers still “struggling” to find replacement customers after coming under sanctions pressure from Western customers, it is hard to expect the country to quickly find an export route. to replace.
Oil was also supported after the EIA’s Weekly Oil and Gas Report showed crude inventories fell by 2.5 million barrels last week. Inventories of other commodities such as gasoline and distillate fuel and jet fuel also fell sharply. Meanwhile, oil production in the US during the 7 weeks only remained at 11.6 million barrels per day, despite the gradually increasing number of rigs. Thus, it is difficult to say that oil production from the US will increase to a certain extent to relieve pressure on the shortfall from Russia.
Meanwhile, today US President Biden is expected to meet with NATO and EU allies to discuss the situation in Russia – Ukraine. It has been a month since Russia launched a military operation in Ukraine, and many analyzes indicate that the hostilities will continue. The US is trying to convince its allies to increase sanctions on the Russian oil industry. If successful, this will be a premise for Russia’s oil production and exports to continue to decline sharply, supporting the price to continue to rise. On the contrary, if the meeting results only in some sanctions targeting individuals and organizations, oil prices may face pressure again.
Nickel hit the ceiling 15%, leading the metal group
Green color also returned to most metal items yesterday. Gold and silver prices both increased 1.14% to $1,943 an ounce and $25.2 an ounce, respectively. On the contrary, platinum prices continued to close in the red with a slight decrease of 0.4%.
The cash outflow from the stock market again, amid rising oil prices fueling inflation concerns, supported the prices of precious metals. Two commodities, gold and silver, benefited first from this movement of capital, so they rose again yesterday.
In addition, the high bond yield of nearly 2.4% is also a competitive factor for investors’ cash flow for precious metals, this yield has now decreased to 2.29%, reflecting Bond prices have risen again. Recently, the relationship between oil prices and precious metal prices is becoming clearer, when oil prices rise, precious metals prices also benefit greatly from concerns about inflation, however This probably won’t last long.

As for base metals, copper prices rebounded 1.7% after two sessions of losses to $4.78/lb. Although the current consumption demand has not increased too much, the worry about supply has once again boosted the purchasing power of the copper market. Currently, inventories on the Shanghai Department have fallen to less than 60,000 tons, and are the lowest since 2018, and notably, this is the only year where the inventory level declines seasonally. The total reserve volume on all three major departments is currently less than 300,000 tons, equivalent to about 4 days of worldwide consumption.

Nickel price increased “to the ceiling” 15% yesterday to $ 32,380 / ton, after many sessions of sharp decline. Currently, nickel trading on the LME is very volatile and potentially risky with extreme ups and downs. Many investors who opened short positions in the past are looking to buy back, to liquidate their positions in the face of unprecedented volatility.
Iron ore prices rose slightly by 1.6% to $148/ton, despite the closure of China’s steel capital Tangshan to limit the spread of the Covid-19 epidemic. Currently, the country’s steel production and transportation activities are in danger of stalling, however, many factories are facing a shortage of raw materials, so iron ore prices have not yet been under strong selling pressure. .
In the domestic market, the price of iron ore has not cooled down, so Vietnam’s steel producers still keep their prices as high as they are today.

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