Finance

International and domestic crude benchmarks snapped a multi-session winning streak, retreating as the U.S. government detailed a major financial isolation campaign. Treasury Secretary Scott Bessent introduced aggressive economic measures targeted at nations doing business with Iran, an offensive described as an 'economic D-Day.' Brent crude futures settled lower at $92.17 a barrel, while West Texas Intermediate also fell, providing some relief to domestic bond yields.

The cryptocurrency market experienced a strong wave of momentum, pushing Bitcoin above the $80,000 threshold for the first time since mid-May. Renewed inflows into spot exchange-traded funds and shifting macroeconomic expectations fueled the sharp rally. Traders are increasingly interpreting cooling inflation and softer employment data as signs that the Federal Reserve may refrain from further monetary tightening.

Geopolitical uncertainty increased following the collapse of bilateral trade negotiations between the United States and Canada over the weekend. In response, a 50% tariff was threatened on critical Canadian imports, including vehicles, steel, and automotive components. The trade friction prompted Canada to plan equivalent dollar-for-dollar retaliatory measures, driving investors toward safe-haven assets and defensive equities.