Finance

Brent crude futures surged 5.66% to settle at approximately $108 per barrel, while West Texas Intermediate climbed 4.61% to over $94. These spikes are driven by escalating tensions and the potential closure of the Strait of Hormuz, with analysts warning that persistent disruptions could push inflation expectations above 4%.

New applications for U.S. unemployment benefits remained low last week, indicating a stable labor market that economists describe as a "low-hire, low-fire" environment. This resilience likely grants the Federal Reserve flexibility to maintain current interest rates while monitoring inflationary risks stemming from geopolitical instability.

Bitcoin fell nearly 2.6% over a 24-hour period to trade around $69,438, as the broader cryptocurrency market faces its fifth consecutive month of negative returns. Despite this downturn, some analysts note that institutional flows remain steadier for digital assets compared to precious metals like gold and silver, which have seen recent ETF outflows.

Treasury yields for both 10-year and 2-year notes increased sharply on Thursday, reflecting investor concern over rising energy costs and persistent core inflation. The 10-year yield has surpassed 4%, creating renewed pressure on the bond market and potentially impacting future mortgage rates.