Finance

Energy prices fell significantly on Friday as benchmark international Brent futures dropped below $100 per barrel and West Texas Intermediate futures approached $92. This cooldown in crude was largely driven by reports that diplomatic negotiations in New York are exploring a deal to reopen the critical Strait of Hormuz. The decline in energy costs helped alleviate some of the acute inflationary pressures that have troubled investors throughout the week.

A historic selloff in global fixed-income markets showed signs of stabilizing as Treasury yields eased slightly from their peak levels. The 10-year Treasury yield moderated to finish around 5.18% after previously pushing past 5.22%, which represented its highest level since 2007. Despite the late-week breather, yields remain markedly elevated for the month due to continuous inflation concerns, a robust domestic economy, and expectations of hawkish policy adjustments from Federal Reserve officials.

Digital assets showcased strong resilience as major tokens avoided major pullbacks following a recent $452 million security breach at the Bitget platform. Bitcoin consolidated flatly around the $84.4K mark, while Ethereum hovered near the $2.7K threshold. Traders noted that the landscape was further characterized by a significant $16.6 billion options expiration event, which prompted brief fluctuations but failed to break the prevailing market stability.