Finance

Global energy benchmarks rose significantly after fresh warnings regarding the conflict with Iran and the potential closure of the Strait of Hormuz. Brent crude climbed nearly 2% to reach $111 a barrel, while West Texas Intermediate followed a similar upward trajectory, intensifying fears that higher energy costs will sustain inflationary pressures.

The cryptocurrency market experienced a one-sided flush of leveraged long positions, with over $500 million in liquidations recorded over the past 24 hours. Bitcoin fell to a two-week low of approximately $76,551 as traders moved away from speculative assets in response to deteriorating macroeconomic conditions.

U.S. bond yields surged as investors adjusted for a "higher-for-longer" interest rate environment driven by persistent inflation. The 10-year Treasury yield hit a 15-month high of 4.63%, while the 30-year bond yield reached levels not seen in nearly two decades, reflecting growing skepticism regarding Federal Reserve rate cuts in 2026.