Finance

Crude oil benchmarks experienced sharp swings following a rejection by the Trump administration of an Iranian proposal to reopen the Strait of Hormuz. Despite subsequent attempts by Qatari mediators to orchestrate diplomatic negotiations, market participants remain anxious about prolonged disruptions to Middle Eastern oil supplies.

Bullion struggled to maintain upward momentum after plunging nearly four percent in consecutive sessions to reach its lowest level since early August. The precious metal is facing stiff headwinds from a strengthening U.S. dollar and escalating bond yields, which have dampened the appeal of non-yielding assets.

The cryptocurrency market observed mostly sideways price action, with Bitcoin hovering within the mid-$83,000 threshold. Digital asset markets are displaying a cautious posture as traders anticipate a series of major macroeconomic data releases from the United States later in the week.