Finance

Crude oil prices fluctuated dramatically as new demands from the U.S. and Iran dampened hopes of reopening the vital Strait of Hormuz shipping lane. Brent crude futures briefly crossed the $90 per barrel threshold before settling up 1.4% at $88.91, raising investor concerns that sustained energy costs will exacerbate inflation.

Bitcoin fell back below the $64,000 threshold, trading in a tight, cautious window as digital asset investors brace for the upcoming U.S. Consumer Price Index report. Higher energy costs have stoked fears of stubborn inflation, creating a macro environment that historically serves as a headwind for non-yielding assets.

Despite broad geopolitical anxieties, positive corporate performance keeps supporting historical high valuations, with S&P 500 earnings per share tracking up 50% year-over-year. Individual winners included Aramark, which jumped 8.5% on stronger-than-expected profit and revenue, and National Energy Services Reunited Corp., which surged over 23%.