Finance

International oil benchmarks experienced extreme volatility, with Brent crude briefly pushing past $109 a barrel following the temporary precautionary shutdown of Saudi Arabia's East-West pipeline amid regional attacks. While prices ultimately retreated slightly on speculative diplomatic efforts, prolonged geopolitical tensions in the Middle East and record-high domestic diesel prices continue to fuel long-term stagflation anxieties.

The broader cryptocurrency market experienced downward pressure, dragging Bitcoin below the $77,000 threshold as rigid central bank policy expectations reduced investor appetite for non-yielding digital assets. Interestingly, institutional fund flows diverged widely, with spot Ethereum ETFs pulling in a substantial $216 million in a single session even as spot Bitcoin vehicles marked consecutive days of net capital outflows.

Gold futures struggled to secure a solid trajectory, recording a multi-week decline as robust wholesale inflation and elevated energy costs drove the benchmark 10-year Treasury yield up toward the 5% threshold. Although persistent geopolitical friction in the Gulf provided minor safe-haven support, the broader appreciation of the U.S. dollar significantly amplified the opportunity cost of holding non-yielding bullion.