Finance

West Texas Intermediate jumped 3.4% to $91.30 a barrel, while Brent crude climbed to around $104 following reports of potential U.S. operations in Iran and escalating tanker threats in the Strait of Hormuz. Supply anxieties were further amplified as energy infrastructure braced for the rapid intensification of Tropical Storm Isaias in the northern Gulf Coast.

The 10-year Treasury yield hovered around 5.23% after climbing near 5.37%, lingering close to its highest level in 24 years. Yields were pushed higher by Hawkish Fed rhetoric and another decline in weekly jobless claims to 197,000, signaling a tight labor market that may prompt the central bank to keep interest rates elevated.

Bitcoin fell more than 2.5% to slide toward the $82,000 threshold following the release of the Federal Reserve's latest meeting minutes, which signaled a strong likelihood of another interest rate hike in 2026. The sudden downturn triggered over $550 million in total crypto liquidations, disproportionately flushing out leveraged long positions.