Finance

Crude oil benchmarks experienced notable gains following a sequence of weekend attacks in the Middle East, which included a strike on a major Saudi Arabian pipeline. Brent crude traded above $105 per barrel, intensifying concerns over sustained global inflation. Market analysts have warned that persistent transit disruptions could continue to push oil prices even higher in the near term.

The 10-year U.S. Treasury note yield briefly crossed the 5% threshold, reaching heights not witnessed in several years. Fixed-income markets are adjusting to stronger-than-expected inflation metrics, which have bolstered expectations for a central bank interest rate hike. Market participants heavily anticipate that the Federal Reserve will raise rates at its upcoming policy meeting.

Spot gold prices declined to around $4,300 per ounce, extending a multi-week downward trajectory. The precious metal is facing pressure from elevated bond yields and a strengthening dollar driven by inflation worries. Investors are largely looking past gold's typical haven appeal as expectations for an aggressive Federal Reserve policy move solidify.