World oil prices rise; domestic coffee prices continue to fall
(Baonghean.vn) - Crude oil on the world market increased; Japanese Yen increased slightly; domestic coffee prices continued to decrease, these are the market news on September 9.
Japanese Yen slightly increased
According to a survey by Industry and Trade Newspaper,Japanese Yen exchange rateToday, at the bank, the highest buying rate of Japanese Yen is 161.31 VND/JPY and 165.34 VND/JPY - an increase of 0.93 VND in buying and an increase of 0.96 VND in selling.
Japanese Yen Price Forecast: Japan's Finance Minister Shunichi Suzuki said that rapid currency volatility is undesirable and authorities will not rule out any options against excessive volatility, in a fresh warning to investors trying to sell the yen.
The dollar hit a 10-month high near 148 yen this week on expectations the Federal Reserve could keep interest rates high to combat persistently high inflation, in stark contrast to the Bank of Japan (BOJ), which is unlikely to exit its easing policy.
Suzuki's comments follow a similar warning from his deputy Masato Kanda, vice finance minister in charge of international affairs, on Wednesday, although analysts do not see intervention as imminent at the current level.
The dollar has broken through the 145 yen level that triggered Japan's first yen buying operation last September.
World oil prices rebound
In the world market,gasoline pricesToday 9/9 has an upward trend after 2 sessions of decline.
Data from Oilprice shows that at 9:07 a.m. on September 8 (Vietnam time), Brent crude oil was trading at $89.52 per barrel, down $0.40, or 0.44%, from the previous session. WTI crude oil was at $86.44 per barrel, down $0.43, or 0.49%, from the previous session.
At 8:30 p.m. on September 8 (Vietnam time), Brent oil price reached 90.49 USD/barrel, up 0.57 USD, equivalent to 0.63% compared to the previous session. WTI oil price was at 87.31 USD/barrel, up 0.44 USD, equivalent to 0.51% compared to the previous session.
Analysts say oil prices are rising because fundamental information about supply and demand in the medium term is still supporting prices.
Oil prices jumped earlier this week after Saudi Arabia and Russia, the world's top two oil exporters, extended voluntary supply cuts until the end of the year.
Russia will cut its oil exports by 300,000 barrels per day in September, according to some sources. Russia had already cut 500,000 barrels per day in August. Saudi Arabia is expected to extend its planned production cut of 1 million barrels per day into October.
Goldman Sachs (USA) said that if both Russia and Saudi Arabia continue to tighten supply, oil prices could reach $107/barrel by December 2024, equivalent to the early period of the Russia-Ukraine war.
Coffee prices continue to fall
PricecoffeeDomestic coffee prices were updated at 4:30 a.m. on September 9, 2023 as follows: Domestic coffee prices continued to decrease sharply compared to mid-week trading sessions, currently the average price is 64,900 VND/kg, the highest price in Dak Nong province is 65,500 VND/kg.
Specifically, coffee prices in Gia Lai and Kon Tum provinces stood at 64,900 VND/kg. In Dak Nong province, the highest coffee price was 65,500 VND/kg.
The price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 64,500 VND/kg.
Coffee price today in Dak Lak province today in Cu M'gar district, coffee price is currently at 65,200 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 65,300 VND/kg.
