Finance

International energy markets remain highly pressured following a fresh exchange of overnight military strikes between the United States and Iran near the Strait of Hormuz. Global benchmark Brent crude climbed toward $96 a barrel, while West Texas Intermediate neared $91 a barrel. The heightened geopolitical risks and threat of supply disruptions have driven strong gains for major oil producers like ExxonMobil and Chevron.

Spot gold prices fell heavily to trade around $4,320 per ounce, marking a drop of nearly 9% from the previous week's peak. The continuous downward pressure is attributed to a strengthening U.S. dollar and soaring Treasury yields, which elevate the opportunity cost of holding non-yielding metals. Furthermore, surging energy costs have hardened expectations that the Federal Reserve will implement a 25 basis point rate hike at its upcoming September policy meeting.

Digital assets experienced a significant selloff, with Bitcoin slipping below the $77,000 threshold and Ethereum dropping near $2,370. The pullback across the crypto landscape mirrors a broader aversion to risk assets caused by the U.S.-Iran conflict and escalating energy prices. Because cryptocurrencies do not yield interest, rising expectations of higher central bank borrowing costs have limited their price growth.