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VCSC Daily - Global oil drop pulls down Vietnamese O&G shares, drags index lower - MSN

In Monday trading, Brent Crude fell 3.5% to USD38.82/bbl due to statements by Iran that it will increase production and also due to market sentiment that oil prices may have risen too quickly from January lows. As a result, oil & gas blue-chips GAS (-3.5%) and PVD (-4.9%) posted significant losses. The sector as a whole took almost two points off the VN-Index. Banks came in second behind O&G as index laggards, but to a more modest extent. Only VCB (+0.7%) stood in the green,