Finance

International benchmark Brent crude oil futures climbed nearly 3.9% to settle around $103.08 per barrel, reigniting fears of persistent energy-driven inflation. The shock to energy supplies continues to be fueled by ongoing geopolitical tensions and hostilities involving Iran. The resurgence in commodity pricing offset any optimism surrounding simultaneous diplomatic discussions at the United Nations General Assembly.

Strong economic data from the preliminary September S&P Global Purchasing Managers' Index indicated a robust expansion, stoking anxieties over upcoming monetary policy decisions. Market expectations have shifted firmly toward a tighter regime, with the implied probability of a Federal Reserve interest rate hike next month jumping past 66%. This economic resilience complicates the central bank's trajectory following its quarter-percentage-point interest rate increase earlier in the month.

In digital asset markets, Bitcoin experienced a strong wave of momentum, rallying past the $86,000 threshold. The surge coincided with earlier week gains in technology shares before the broader equity market pulled back. Despite macroeconomic and interest rate uncertainties weighing down conventional asset classes, broader monetary liquidity trends have continued to provide an underlying cushion for alternative assets.