Finance

Energy markets spiked amid escalating geopolitical risks in the Middle East following the expiration of a critical U.S.-Iran ceasefire agreement. Reports that an oil tanker was detained in the Strait of Hormuz fueled fears of shipping disruptions. Consequently, international benchmark Brent crude surged past $90 a barrel, closing up 2.7%, while West Texas Intermediate futures climbed 2.6% to settle at $84.50 per barrel.

U.S. government bond yields pressed higher on Monday, intensifying concerns about stubborn inflation and future monetary policy. The 30-year Treasury yield surged to 5.31%, marking its highest closing level since June 2007. Concurrently, the 10-year Treasury yield ticked up to 4.725% as falling bond prices mirrored the broader risk-off sentiment in the financial markets.

Digital assets traded within a flat-to-lower range, with Bitcoin hovering around the $63,400 mark and Ethereum clinging to approximately $1,900. The broader cryptocurrency market continues to search for a definitive bottom while facing headwinds from a roaring equity market that has diverted retail interest. Cautious investor sentiment was further highlighted by $390 million in net outflows from U.S. spot Bitcoin ETFs last week.