Finance

Crude oil benchmarks jumped over one percent as military escalations between the United States and Iran renewed supply anxieties in the Strait of Hormuz. Brent crude futures moved past the $90 threshold while West Texas Intermediate also recorded notable gains.

Spot gold and silver values continuous an aggressive downward correction, building on substantial losses from late last week. A stronger dollar and climbing Treasury yields have increased the opportunity cost of holding non-yielding metals as inflation fears persist.

Cryptocurrency markets enjoyed a substantial upward trajectory throughout August, with Bitcoin rallying significantly and briefly crossing the $80,000 threshold. The upswing was catalyzed by substantial institutional interest in spot ETFs alongside a boost in long bond buybacks by the U.S. Treasury.