Finance

Crude oil benchmarks retreated, with international standard Brent falling back below the $100 per barrel mark. Market pressure softened following reports that diplomats from the United States and Iran are making progress on a phased agreement to reopen the strategic Strait of Hormuz. Despite the recent relief, energy prices remain elevated compared to earlier in the year due to ongoing tensions in the Middle East.

Major stock indices found firmer footing, attempting to rebound from a volatile week of losses driven by the central bank's tightening cycle. Investor sentiment was partially supported by an announcement from the White House that the United States and China agreed to extend their current trade truce into early 2027. Despite this structural relief, equity gains remain capped by a narrow market breadth and higher-for-longer interest rate projections.

Digital asset markets staged a notable recovery, looking past a highly anticipated legislative defeat in Washington. A key procedural vote in the Senate failed to push the Digital Asset Market Clarity Act forward, effectively killing the sweeping crypto regulatory framework for the remainder of the year. Market analysts expressed optimism over the underlying network participation and sector infrastructure holding strong despite the political headwinds.