Market Highlight 22.09.2026

Global oil prices fell back toward 100 USD/barrel as shipping conditions through the Strait of Hormuz improved and diplomatic efforts to end the war between the U.S and Iran gained momentum. U.S President Donald Trump said he could meet Iran’s leader on the sidelines of the United Nations General Assembly in New York this week. President Trump is also scheduled to hold a high-level meeting with the Chinese President on Thursday and may hold discussions with leaders of Persian Gulf countries. Meanwhile, satellite data showed that Saudi Arabia sharply increased oil shipments from the Persian Gulf over the weekend, with the number of vessels calling at its ports reaching the highest level since June. This indicates that Saudi oil supplies have begun moving back through the Strait of Hormuz after a key cross-country pipeline to the Red Sea was disrupted in early September. Global markets have shifted their focus toward improving crude oil and liquefied natural gas (LNG) flows through the Strait of Hormuz, as well as the possibility of diplomatic progress on the sidelines of the United Nations General Assembly in New York.

Brent crude has risen by more than 65% this year as the war disrupted flows through the Strait of Hormuz and refinery attacks occurred in Russia. Petroleum products such as diesel have risen even more sharply than crude oil, adding to inflationary pressures. U.S retail diesel prices have exceeded 6,5 USD/gallon for the first time, surpassing the previous peak recorded in 2022. Diesel, which is widely used in trucks, agricultural equipment, generators, ships, trains, and household heating systems, is affecting almost every sector of the economy.

Interbank USD/VND traded steadily around 26.000 - 26.020 on Monday. Since the beginning of the year, the exchange rate has declined by around 1%, while the effective daily ceiling has increased by approximately 2%.

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