Market Highlight 19.08.2026

Global oil prices rose for the fourth consecutive day as there was still no progress toward resolving the war between the U.S and Iran after nearly 6 months of conflict. WTI crude climbed above 85 USD/barrel after gaining 4,5% over the previous three trading sessions, while Brent crude closed above 91 USD/barrel. U.S President D. Trump said on Tuesday that no negotiations were currently taking place with Iran. Tehran and Washington remain divided over how the Strait of Hormuz should be managed, causing traffic through this critical waterway to fall to its lowest level. The U.S plans to intensify economic pressure on Iran in an effort to force concessions while maintaining the blockade of the country’s ports. U.S Treasury Secretary Scott Bessent said a new package of tougher measures could be announced this week.

Crude oil prices have risen sharply since the conflict in the Middle East erupted in late February, adding to inflationary pressure. The Russia - Ukraine war has also contributed to tighter energy markets following attacks on oil refineries. Prices of refined products, particularly diesel, have increased much more sharply than crude oil prices, placing significant pressure on truck drivers and industrial sectors. In the U.S, fresh signs have emerged that inventories are declining. In particular, the U.S Strategic Petroleum Reserve has now fallen to its lowest level in decades. Refining margins for producing industrial fuels from crude oil in the U.S have risen to more than 100 USD/barrel, reaching an all-time high.

Interbank USD/VND corrected lower by around VND 35 yesterday and closed the day above 26.180. The SBV also lowered the effective daily ceiling by VND 6 to 26.859.

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