Finance

Crude oil benchmarks surged after President Trump announced the end of a temporary ceasefire with Iran at the NATO summit in Turkey. This geopolitical shift drove WTI and Brent futures significantly higher, boosting shares of major energy companies like ConocoPhillips while weighing on fuel-sensitive sectors such as travel.

The U.S. 10-year Treasury yield climbed to a four-week high near 4.58% as market participants adjusted to a more hawkish Federal Reserve stance under new Chair Kevin Warsh. The central bank recently removed traditional forward guidance in favor of pure data dependence, leading to increased volatility and expectations of potentially higher borrowing costs for longer.

Bitcoin and Ethereum traded lower this week but showed signs of stability near the $62,000 and $1,740 levels, respectively. Despite a broader decrease in risk appetite due to Middle East tensions, the digital assets have recently tracked front-end Treasury yields more closely than traditional inflation hedges like gold.