Finance

Energy markets snapped a five-day losing streak as oil prices rebounded, with international Brent crude climbing 3.8% to finish back above $103 per barrel and domestic WTI crude settling over $92 per barrel. The sudden reversal has renewed concerns over broad-based inflation and prompted Federal Reserve officials to signal that further monetary tightening may be necessary to cool the economy.

Economic data released on Wednesday showed unexpected economic resilience, with private-sector business activity accelerating at the fastest pace in years. The S&P Global manufacturing PMI jumped to 57 for September, beating forecasts of 53.7, while the services sector metric rose to 58.7. The robust expansion fueled investor anxieties that an overheating economy will compel the central bank to maintain higher interest rates for longer.

Digital assets pulled back from recent eight-month highs as rising bond yields and an appreciating U.S. dollar dampened appetite for risk assets. Bitcoin fell toward the $85,000 range, while Ethereum declined past $2,700 despite recent momentum driven by short liquidations and institutional adoption reports. Market participants continue to watch shifting macroeconomic policies and political developments ahead of key bilateral trade talks.