Finance

International crude prices surged heavily, with Brent tracking above $105 per barrel and West Texas Intermediate tracking past $93 per barrel. The commodity advance followed President Trump's rejection of a seven-day truce proposal intended to reopen the Strait of Hormuz, heightening fears of sustained global supply chain blockages and shipping vulnerabilities.

U.S. Treasury yields pushed higher across the curve, with the benchmark 10-year note touching 5.21% and shorter-term 2-year notes climbing beyond 4.91%. This upward trajectory reflects aggressive adjustments from traders who are reacting to resilient economic indicators and pricing in a strong likelihood of an additional Federal Reserve rate hike in October.

Global spot gold fell more than 2%, dropping past the $4,200 per ounce threshold to mark its lowest valuation since early August. The severe downward pressure stems from a compounding mix of high oil prices, a stronger dollar, and elevated bond yields, which drastically inflate the opportunity cost of holding non-yielding safe-haven assets.