Finance

Global oil benchmarks experienced a slight pullback at the end of the week, with Brent crude dipping to roughly $104 per barrel and West Texas Intermediate easing toward $91 per barrel. This slight cooling came after a week of extreme volatility driven by intensifying conflict near the Strait of Hormuz and a Gulf of Mexico hurricane that temporarily halted a quarter of domestic production. The recent stabilization was further supported by political announcements regarding immediate energy supply additions.

Fixed-income yields stabilized just below historic peaks ahead of the Columbus Day federal holiday closure. The benchmark 10-year Treasury yield fluctuated slightly below 5.25%, retreating from a 24-year high of nearly 5.37% set mid-week due to sticky inflation forecasts and persistent geopolitical tensions. Investors are now turning their attention toward major financial institutions slated to report third-quarter earnings next week.

Digital assets saw modest stabilization, with Bitcoin trading above $82,300 after enduring a sharp macroeconomic sell-off earlier in the week. The broader crypto market capitalization had previously slipped 3% to $2.85 trillion following a major wave of long positions being liquidated across exchanges. These movements were primarily exacerbated by tightening financial parameters and shifting expectations around future monetary policy actions.