Finance

Global oil prices surged on Monday following reports of military escalations involving Iranian forces and U.S. naval assets. Brent crude jumped more than 5% to trade above $110 per barrel, fueling concerns that persistent energy inflation could complicate future monetary policy decisions.

Despite broader market uncertainty, the technology sector remained resilient following Apple's record-breaking fiscal second-quarter results. The company's optimistic revenue outlook and a new $100 billion share buyback program helped lift its stock by over 3%, supporting the Nasdaq Composite as it hovered near its own record levels.

In the cryptocurrency market, Bitcoin surpassed the psychologically significant $80,000 mark for the first time since late January during early Monday trading. Analysts noted that the digital asset has shown high inverse correlation with oil prices during the current conflict, briefly rallying as shipping relief hopes emerged before paring gains as tensions re-escalated.