Finance

Global energy markets fell sharply, with both Brent and West Texas Intermediate benchmarks declining roughly 5% to drop near or below psychological thresholds. The steep retreat was triggered by reduced immediate supply threats following a pause in planned airstrikes and indications of increased production plans from OPEC+.

Spot gold and precious metal futures edged higher on Monday, benefiting from a weaker U.S. dollar and a decline in oil prices. The drop in energy costs helped alleviate immediate concerns over persistent inflation, giving the non-yielding asset some breathing room ahead of major labor market reports due later in the week.

The currency market adjusted rapidly after a rare joint intervention by the U.S. Treasury and Japanese financial authorities to prop up the struggling yen from a 40-year low against the greenback. Despite the sudden move strengthening the yen by roughly 4% to 5% in recent sessions, market analysts remain skeptical about long-term sustainability due to negative real interest rates in Japan.