Finance

Global energy markets continue to react aggressively to the ongoing military conflict between the United States and Iran in the Middle East, obstructing flow through the vital Strait of Hormuz. West Texas Intermediate crude neared $105 per barrel, triggering warnings from financial firms that depleted oil inventories could trigger widespread global economic contraction.

U.S. government debt yields have reached levels not seen in over twenty years, with the 10-year Treasury yield closing at roughly 5.28%. Rising costs for energy combined with hawkish remarks from Federal Reserve officials signaling the potential for additional interest rate hikes have kept bond market volatility high.

Bitcoin prices have slid toward the low $82,000 range, a drop of over $4,000 from highs reached earlier in the week. The digital asset market remains constrained by cooling inflows into institutional exchange-traded funds and investor anxiety regarding the Federal Reserve's upcoming monetary policy decisions.