Finance

Oil futures fell substantially, with West Texas Intermediate approaching $92 per barrel and Brent sliding below $98. The retreat in energy prices follows reports that U.S. and Iranian negotiators are actively discussing a phased deal to restore shipping traffic through the critical waterway. This diplomatic progress provided crucial relief to a market rattled by an energy shock.

The historic meltdown in the fixed-income market paused, allowing government bond yields to pull back slightly from multi-decade peaks. The 10-year Treasury yield moderated to around 5.17% after briefly touching 5.22%, its highest mark since 2007, while the 30-year yield reached levels not seen since 2004. Borrowing costs remain heavily elevated due to ongoing concerns surrounding government debt and inflation.

Bitcoin remained resilient near the $84,000 threshold despite substantial liquidations and a $351.6 million security breach at the Bitget exchange. Digital assets faced a highly consequential landscape marked by the Senate's regulatory push on the Digital Asset Market Clarity Act alongside ongoing spot ETF inflows. Leveraged derivatives positions continue to create short-term price sensitivity even as spot prices trade flat.