See the full story in the original article.
Original headline: ‘The $100 level is ours for awhile’: Oil won’t be getting cheap anytime soon, no matter what happens in the Gulf
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Related tickers and likely impact
PVD
▲ Likely positivePetroVietNam
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Oil & Gas |
| Industry | Oil Equipment & Services |
| Market cap | 17,442 bn VND |
| P/E | 15.7 |
| P/B | 1.01 |
| Close on 10/29/2026 | 18.35 |
| Change that session | -2.39% |
GAS
▲ Likely positivePetroVietnam Gas
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Utilities |
| Industry | Gas Distribution |
| Market cap | 187,486 bn VND |
| P/E | 14.7 |
| P/B | 2.73 |
| Close on 10/29/2026 | 76.00 |
| Change that session | -2.19% |
PLX
▼ Likely negativePetrolimex
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Oil & Gas |
| Industry | Integrated Oil & Gas |
| Market cap | 44,915 bn VND |
| P/E | 14.0 |
| P/B | 1.85 |
| Close on 10/29/2026 | 34.00 |
| Change that session | -3.82% |
XAU/USD
▲ Likely positiveRelevance: low
| Market | Gold |
|---|---|
| Close on 10/28/2026 | 4,067.54 |
| Change that session | +0.18% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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Oil and gas stocks on the HCMC exchange were sold heavily and closed below reference prices, with PVT hitting its floor price of 21,300 dong on more than 21 million shares matched and GAS, BSR and PVD falling over 2%. Pressure was linked to Brent crude falling nearly 1% to $114 per barrel and investor concerns over major shareholder changes after the government said it will keep 100% ownership of Petrovietnam. HPG gained over 2% on strong Q3 results, while the VN-Index closed at 1,755 points, down more than 11 points, as foreign investors extended their selling streak to five sessions with net sales of over 450 billion dong. MB Securities said the short-term bottom around 1,700-1,720 points has been confirmed, but the index is likely to trade sideways between 1,760 and 1,780 points amid the Fed policy meeting and the Q3 earnings season.
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Russia's daily diesel output rose from 160,000 tonnes in early October to 180,000 tonnes after the government eased export restrictions, allowing companies to ship up to 500,000 tonnes in October. Based on Reuters estimates, a drop in domestic demand after the harvest could free more than 1 million tonnes a month for export. A diesel deal between Presidents Putin and Trump, and a temporary US sanctions waiver for Russian diesel imports, has strained US-Ukraine relations, with Trump urging Zelensky to stop attacks on Russian refineries. Zelensky called Trump's claims “completely false” and argued that the US-Israeli military campaign against Iran and Iran's response had caused severe disruption in the Strait of Hormuz. Russia was previously the world's second-largest diesel exporter, with about 10% of global exports, so supply disruptions could push up prices even in countries that do not import directly.
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Brent crude settled up 3 cents at $108.82 a barrel on October 21, while WTI fell 67 cents to $97.15, as the risk of supply disruption in the Middle East kept markets on edge. Iran's Revolutionary Guards said mines had stopped three tankers trying to pass through the Strait of Hormuz on routes Tehran considers unauthorized, and two of the violating vessels caught fire. Houthi forces claimed attacks on Saudi Aramco's Yanbu facility, the Shaybah oilfield and airports in Riyadh and Abha. Goldman Sachs said average global crude freight rose above $20 a barrel from $3 a year earlier, with about $7 of that increase from war-risk premiums for Hormuz transit, and warned higher shipping costs could push up refined product prices.
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