Finance

Crude oil futures fell significantly as investors weighed a potential diplomatic breakthrough between the U.S. and Iran. Brent crude dropped 3.4% to roughly $87 per barrel following reports that a deal to lift sanctions and reopen the Strait of Hormuz could be imminent.

Benchmark U.S. Treasury yields declined as cooling energy prices helped alleviate immediate inflation concerns. The 10-year note yield settled near 4.48% while the 2-year yield fell to approximately 4.09%, reversing some of the upward pressure seen earlier in the week from resilient labor market reports.

Cryptocurrency markets experienced a cautious recovery with Bitcoin trading near $63,600 and Ethereum around $1,671. This stabilization occurred as broader market sentiment shifted toward risk-on assets following claims that regional conflicts in the Middle East may be subsiding.