Finance

International benchmark Brent crude oil surged by more than three percent on Wednesday, climbing past $95 per barrel for the first time in nearly six weeks. The sharp increase followed reports of continued U.S. airstrikes in Iran and rising maritime friction in the Red Sea. Retail fuel costs in the U.S. reflected the supply anxieties, pushing the national average price of gasoline above $4 per gallon.

The yield on the benchmark 10-year U.S. Treasury note jumped significantly on Wednesday, approaching its highest intraday level of 2026. The rapid surge in energy prices has intensified concerns over persistent inflation, leading fixed-income investors to demand higher returns. Consequently, traders are increasingly adjusting their expectations to factor in a higher probability of subsequent interest rate hikes by the Federal Reserve.

Bitcoin recorded slight downward volatility after opening higher, fluctuating around the $66,000 mark as its short-term bullish momentum encountered resistance. Digital assets have drawn support from institutional demand, marked by a six-day positive inflow streak for U.S. spot Bitcoin ETFs. Investors are also closely monitoring the legislative progress of the Digital Asset Market Clarity Act as the Senate approaches its summer recess.