Finance

Energy markets have seen Brent crude oil climb above $97 per barrel following reported missile and drone exchanges between US and Iranian forces in the Middle East. The ongoing closure of the Strait of Hormuz and a lack of progress in peace negotiations have fueled concerns over global supply, leading to significant single-session price jumps in both Brent and West Texas Intermediate futures.

The 10-year U.S. Treasury yield is currently steadying around 4.45% to 4.48% as the market processes a surge in job openings that reached a near two-year high. Investors are closely watching for official nonfarm payroll figures later this week, as strong economic activity reinforces the case for the Federal Reserve to maintain elevated interest rates to combat persistent inflation.

The cryptocurrency market faced a sharp decline with Bitcoin dropping below the $66,000 level, leading to nearly $1.8 billion in total liquidations across major assets. Market sentiment reached 'Extreme Fear' after major corporate holders reportedly reduced their positions, sparking a wave of defensive selling that also hit Ethereum and various altcoins.