Finance

Crude oil futures tumbled after reports emerged that Washington and Tehran are in active negotiations to reopen the crucial Strait of Hormuz within a week. Brent futures fell below $100 per barrel while West Texas Intermediate neared $92, giving the global energy complex a temporary breather and calming broader macro inflation anxieties.

A bruising global bond selloff finally caught a break as yields eased off their recent intraday peaks. Though the 10-year U.S. Treasury yield settled around 5.18%, down from highs of 5.22%, it remains locked near a 19-year closing high. Investors continue to digest hawkish commentary from Federal Reserve officials, with the market pricing in higher odds of an October rate hike.

The cryptocurrency ecosystem faced a major security setback as exchange Bitget paused withdrawals following a $351.6 million exploit executed via spoofed transfer data. Meanwhile, Bitcoin hovered around the $84,000 level as the derivatives market processed heavy quarterly options expirations concentrated at the $85,000 and $90,000 strikes.