Finance

Energy prices experienced an uneasy stabilization following a diesel supply agreement between the U.S. and Russia, alongside statements indicating that military strikes on Iran would be avoided prior to the midterm elections. While West Texas Intermediate futures fell slightly to around $91.20 a barrel, international benchmark Brent crude remained elevated above $104 per barrel due to ongoing security risks near the Strait of Hormuz.

The 10-year Treasury yield fluctuated around 5.25%, remaining near its highest level in over two decades after hitting a 24-year peak of 5.37% earlier in the week. Fixed-income markets continue to contend with elevated yields as investors adjust to high interest rate expectations from the Federal Reserve, which are reinforced by climbing consumer inflation forecasts.

Gold futures surged by 1.5% to reach $4,220 an ounce on Friday, benefiting from a weaker U.S. dollar index and ongoing macroeconomic uncertainties. The precious metal continues to find support from market participants re-evaluating the long-term outlook for global inflation and interest rates.