Finance

Crude oil futures pulled back on Friday following high-stakes volatility throughout the week driven by conflicts in the Middle East. West Texas Intermediate hovered around $91 per barrel and Brent crude dropped down closer to $104 per barrel. The downward pressure materialized after statements from the U.S. administration ruled out immediate military strikes on Iran ahead of upcoming elections.

U.S. government bond yields saw slight relief on Friday, pausing a massive run-up that pushed borrowing costs to fresh multi-decade peaks earlier in the week. The 10-year Treasury yield hovered around 5.23%, while the 30-year yield stabilized at 5.60%. The persistently high yields reflect ongoing fixed-income market adjustments to persistent inflation and signals that the Federal Reserve may hike interest rates again before the end of the year.

Digital assets faced persistent headwinds as tightening global financial conditions and looming interest rate anxieties triggered significant liquidations. Bitcoin fell toward $83,000, which sits roughly 30% below its record valuation achieved a year ago. Institutional interest faced parallel friction, with spot Bitcoin exchange-traded funds recording their heaviest outflows since June.