Finance

Crude oil prices remained elevated with West Texas Intermediate settling above $101 per barrel as conflict in the Middle East continues to disrupt critical shipping routes like the Strait of Hormuz. Unresolved negotiations between the U.S. and Iran have heightened fears of a prolonged supply-demand gap, forcing the International Energy Agency to lower its global demand forecasts for the year.

The 10-year U.S. Treasury yield hovered near 4.46%, approaching levels not seen since June of the previous year after inflation data dampened hopes for near-term Federal Reserve rate cuts. Market participants are increasingly pricing in the possibility of a quarter-point rate hike by December as core inflation remains well above the central bank's 2% target.

Bitcoin prices stabilized around $81,000 as digital asset investors monitored both high inflation prints and the start of a high-stakes U.S.-China summit in Beijing. Despite the volatile environment, Bitcoin's market share has risen to over 58%, suggesting a concentration of capital into the largest digital asset as speculative interest in smaller tokens cools.