Finance

Crude oil benchmarks experienced fluctuating sessions but settled with moderate moves as geopolitical anxieties temporarily abated. Easing pressures came after the White House confirmed there would be no immediate military action against Iran ahead of the midterm elections, alongside a newly struck bilateral deal with Russia to supply diesel to global markets. Consequently, Brent crude closed near $104.72 per barrel, while West Texas Intermediate hovered around $91.85, keeping overall weekly energy costs elevated.

Bitcoin demonstrated a modest recovery to trade above $82,300, shaking off a heavier correction earlier in the week that triggered over $1 billion in forced liquidations. Analysts highlighted that the current market leverage profile is healthier and less crowded than during historical flash crashes, preventing a cascading capitulation. However, digital assets continue to face underlying macro headwinds from elevated bond yields and tapering spot ETF inflows.

Shares of Advanced Micro Devices jumped over 20% following a major multi-generation chip supply agreement with an AI firm tied to Sam Altman, which includes provisions for a potential equity stake. The massive deal injected a strong relief impulse back into the broader semiconductor space, offsetting recent concerns regarding artificial intelligence revenue growth targets. In contrast, shares of competitor Nvidia faced modest downward pressure following the announcement.