Finance

Crude oil prices remained elevated with Brent crude settling near $95.60 per barrel and West Texas Intermediate approaching $91 per barrel due to fresh military exchanges between the U.S. and Iran. The escalating conflict stoked fears of severe supply disruptions around the critical Strait of Hormuz. Consequently, energy giants like Chevron and ExxonMobil saw their share prices advance amid the heightened energy cost outlook.

The technology sector spearheaded the broader market rebound, heavily supported by a rally of over 3% in Nvidia shares. Hardware manufacturer Dell Technologies also experienced a notable surge after upwardly revising its annual revenue and profit guidance. This positive momentum helped offset mounting investor anxiety regarding upcoming cloud and cybersecurity budgets ahead of other major corporate earnings.

Spot gold prices fell under pressure, hovering around the $4,330 per ounce range and marking a decline of nearly 9% from the previous week's highs. The downward trajectory is largely driven by sticky inflation warnings from central bank leadership and rising U.S. Treasury yields, which have raised the opportunity cost of holding non-yielding bullion. Analysts note that ক্রমবর্ধমান energy costs have amplified expectations that the Federal Reserve will raise interest rates at its September policy meeting.