Finance

Crude oil futures climbed significantly due to renewed supply fears following intensified shipping attacks in the Gulf and the Strait of Hormuz. International benchmark Brent crude advanced to top $101 a barrel, reversing brief relief from emergency reserve announcements earlier in the week. The sudden upswing in energy prices has resurrected broader market anxieties regarding energy-related inflation.

Federal Reserve Governor Christopher Waller indicated that additional interest rate hikes may be necessary to fully curb persistent inflation. While the September minutes revealed a unanimous vote for the previous rate increase, the central bank's open-ended hawkish stance continues to weigh heavily on investor sentiment. These monetary policy uncertainties are actively fueling volatility and driving emerging market outflows.

Spot gold prices fell sharply, dropping below the $4,100 per ounce mark and touching their lowest levels since early August. The safe-haven precious metal entered a clear correction phase as the combination of a resilient U.S. dollar and elevated Treasury yields reduced its investment appeal. Market experts warn that breaking further technical support levels could drag the asset down to the $4,000 range.