Finance

Renewed exchanges of military strikes between the United States and Iran near the Strait of Hormuz have intensified concerns over energy supply stability. Consequently, international benchmark Brent crude surged to peak near $95 per barrel, boosting equity values for major domestic energy producers like Chevron and ExxonMobil.

Government bond yields have experienced multi-year or multi-decade spikes worldwide as inflation anxieties remain high. The benchmark 10-year U.S. Treasury yield touched 4.80%, indicating growing investor conviction that the Federal Reserve will implement an interest rate hike at its impending policy meeting.

Major digital assets including Bitcoin and Ethereum recorded notable intraday declines, with Bitcoin sliding toward the $76,500 threshold. The digital asset sector is facing compounding pressure because non-yielding instruments become less attractive to market participants when energy inflation lifts macro interest rate forecasts.